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.
Current Liabilities
A balance sheet item, which...
Certificate of Competency
A certificate issued by the Small Bus...
Schedule of Liabilities
A business debt schedule that lists all of the debts...
Partnership
A type of unincorporated business org...
Federal Acquisition Regulation (FAR)
The body of regulations which is...
Days Payable
A measure of the average time a...
Extraordinary Items
Additional expenses that are...
Cash-basis Accounting
records revenue when cash is...
Subcontract
A contract between a prime cont...
Contracting
Purchasing, renting, leasing, or...
Limited Partnership
A business organization with one or...
Coastal Barrier Resource Area (COBRA)
A flood prone area in which...
Contracting Officer
A person with the authority to...
Income Statement
Shows the entity’s income and...
Phase 1
Process used to determine the...

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