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.
Injury Period
The time period during...
Companion File
When an applicant has another application filed...
Federal Acquisition Regulation (FAR)
The body of regulations which is...
Small Business Development Centers (SBDC)
SBDCs offer a broad spec...
Break-even Analysis
A calculation of the approximate sales...
Cash Flow Test
Part of the CET that determines if...
Mentor
A business, usually large, or...
Assets
The amount of current assets that is left...
Lien
A legal claim against an...
Full and Open Competition
With respect to a contract action...
Liabilities
A financial obligation...
Schedule of Liabilities
A business debt schedule that lists all of the debts...
GPM%
The measure of every sales dollar left...
Negotiation
Contracting through the use of...
Extraordinary Items
Additional expenses that are...

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