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.
Substantial Damage
This means uninsured or otherwise uncompensated...
Standard Industrial Classification (SIC) Code
A code representing a category within...
Full and Open Competition
With respect to a contract action...
Physical Loans
Funds to repair/replace dis...
Days Receivable
A measure of the average time a...
Injury Analysis
Measures the effects of...
Protégé
A firm in a developmental stage that...
Days Payable
A measure of the average time a...
Income Statement
Shows the entity’s income and...
Duplicated Interest
The amount of interest exp...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Contractor Team Arrangement
An arrangement in which...
Contracting
Purchasing, renting, leasing, or...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Limited Liability Entities (company/partnership)
An LLE provides business owners with...

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