Glossary
SBA Terms

Defense Contractor

Any person who enters into a contract with the United States for the production of material or for the performance of services for the national defense.

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.
Hardship Waiver
Method used to approve a...
Certificate of Competency
A certificate issued by the Small Bus...
Subsidiary
A company for which a majority of the...
Certified 8(a) Firm
A firm owned and operated by socially and...
Applicant Individual
aka who is requesting an SBA loan...
Affiliate
Business concerns are affiliates if one concern...
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Credit Elsewhere Test (CET)
The test to determine the...
Applicant/Co-Applicant
Business entity and person requesting...
Affiliated Group
When two or more...
Cash Flow Test
Part of the CET that determines if...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Small Business Development Centers (SBDC)
SBDCs offer a broad spec...
Extraordinary Items
Additional expenses that are...

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