Glossary
SBA Terms

Contract

A mutually binding legal relationship obligating the seller to furnish supplies or services (including construction) and the buyer to pay for them.

Updated on
September 9, 2022
Published on
June 20, 2018
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SBA 7a Loans

The 7(a) Loan Program, SBA’s most common loan program, includes assistance for each business with unique needs.
Explore 7a loans

SBA 504 Loans

SBA 504 loans are very popular for long-term, fixed rate financing of up to $5 million for major fixed assets.
Explore 504 loans

SBA Microloans

The average Microloan is about $13,000. The Microloans program provides loans up to $50,000 to small businesses.
Explore microloans
SBA Glossary

Common SBA Terms

Everything you need to know about common terms used to discuss SBA Loans.
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Corporation (C-corp.)
The most common form of business org...
Applicant/Co-Applicant
Business entity and person requesting...
Small Disadvantaged Business Concern
A small business concern that...
Assets
The amount of current assets that is left...
Affiliated Group
When two or more...
Request for Proposal (RFP)
A document outlining a...
Phase 2
Process to be used to determine economic injury for...
Collateral
Assets pledged by a borrower to secure a loan...
Current Liabilities
A balance sheet item, which...
Substantial Damage
This means uninsured or otherwise uncompensated...
Projection
An estimate of future economic or...
Subsidiary
A company for which a majority of the...
Emerging Small Business
A small business concern whose...

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