Glossary
SBA Terms

Contracting Officer

A person with the authority to enter into, administer, and/or terminate contracts and make related determinations and findings.

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.
Cash Flow Test
Part of the CET that determines if...
Amortization
A non-cash operating expense that...
Phase 1
Process used to determine the...
Standard Industrial Classification (SIC) Code
A code representing a category within...
Lien
A legal claim against an...
Request for Proposal (RFP)
A document outlining a...
Injury Period
The time period during...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Depreciation
A non-cash operating expense that...
Coastal Barrier Resource Area (COBRA)
A flood prone area in which...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Applicant Entity
The business entity requesting...
Subcontract
A contract between a prime cont...
NAICS
NAICS codes are common...
Certificate of Competency
A certificate issued by the Small Bus...

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