Contracting

Purchasing, renting, leasing, or otherwise obtaining supplies or services from nonfederal sources. Contracting includes the description of supplies and services required, the selection and solicitation of sources, the preparation and award of contracts, and all phases of contract administration. It does not include grants or cooperative agreements.

Updated on
September 9, 2022
Published on
June 20, 2018
The 7(a) Loan Program, SBA’s most common loan program, includes assistance for each business with unique needs.
SBA 504 loans are very popular for long-term, fixed rate financing of up to $5 million for major fixed assets.
The average Microloan is about $13,000. The Microloans program provides loans up to $50,000 to small businesses.
SBA Glossary

Common SBA Terms

Everything you need to know about common terms used to discuss SBA Loans.
Contracting
Purchasing, renting, leasing, or...
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Physical Loans
Funds to repair/replace dis...
Intermediary Organization
Organizations that play a funda...
Applicant Individual
aka who is requesting an SBA loan...
Joint Venture
In the SBA Mentor-Protégé Program...
Limited Partnership
A business organization with one or...
Contract
A mutually binding legal rel..
Certified 8(a) Firm
A firm owned and operated by socially and...
Full and Open Competition
With respect to a contract action...
Contracting Officer
A person with the authority to...
Injury Period
The time period during...
Adjusted Net Worth
Post disaster fair market value of tangible...
Sole Proprietor
an individual who...
Limited Liability Entities (company/partnership)
An LLE provides business owners with...

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