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.
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SBA 504 Loans

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

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

Common SBA Terms

Everything you need to know about common terms used to discuss SBA Loans.
Applicant/Co-Applicant
Business entity and person requesting...
Guarantor
The legal entity and...
P&L (Profit and Loss Statement)
also considered as Income Statement or...
GPM%
The measure of every sales dollar left...
Days Payable
A measure of the average time a...
Break-even Analysis
A calculation of the approximate sales...
Depreciation
A non-cash operating expense that...
Assets
The amount of current assets that is left...
Full and Open Competition
With respect to a contract action...
Electronic Data Interchange
Transmission of information bet...
DBA
ex. Blocker & Sons LLC, doing business as Bob's Burgers
Acquisition
The acquiring of supplies or...
Small Disadvantaged Business Concern
A small business concern that...
Defense Acquisition Regulatory Council (DARC)
A group composed of rep...
Cash Flow Test
Part of the CET that determines if...

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