Credit Score Test

Part of the home loan CET show a credit score of 700 or higher may enable applicants to borrow money at reasonable rates and terms. As such, an application may qualify for the higher disaster loan interest rate if the primary wage earner’s credit score is equal to or greater than 700.

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.
Comparative Analysis
Is designed to point out significant trends that...
Certified 8(a) Firm
A firm owned and operated by socially and...
Substantial Damage
This means uninsured or otherwise uncompensated...
Contract
A mutually binding legal rel..
GPM%
The measure of every sales dollar left...
Physical Loans
Funds to repair/replace dis...
Affiliated Group
When two or more...
Prime Contract
A contract awarded directly...
Full and Open Competition
With respect to a contract action...
Joint Venture
In the SBA Mentor-Protégé Program...
Credit Elsewhere Test (CET)
The test to determine the...
B/E (Business EIDL) Loan
A business loan that...
Phase 1
Process used to determine the...
Affiliate
Business concerns are affiliates if one concern...
Contracting Officer
A person with the authority to...

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