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.
Full and Open Competition
With respect to a contract action...
Limited Partnership
A business organization with one or...
SCORE
Counselors to America's Small Bus...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Days Payable
A measure of the average time a...
Capital Leases
are for the purchase of fixed assets such as...
Defense Acquisition Regulatory Council (DARC)
A group composed of rep...
Defense Contractor
Any person who enters into...
Comparative Analysis
Is designed to point out significant trends that...
Credit Elsewhere Test (CET)
The test to determine the...
Injury Period
The time period during...
NAICS
NAICS codes are common...
Contracting Officer
A person with the authority to...
Partnering
A mutually beneficial business-to-bus...
Small Business Development Centers (SBDC)
SBDCs offer a broad spec...

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