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.
Prime Contract
A contract awarded directly...
Best and Final Offer
For negotiated procurements...
SAE (Stand Alone Economic Injury Disaster Loan)
provide necessary working capital to...
Schedule of Liabilities
A business debt schedule that lists all of the debts...
Contracting Officer
A person with the authority to...
Normal Gross Margin
The margin that would have been...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Credit Elsewhere Test (CET)
The test to determine the...
Companion File
When an applicant has another application filed...
Limited Partnership
A business organization with one or...
Emerging Small Business
A small business concern whose...
Defense Acquisition Regulatory Council (DARC)
A group composed of rep...
Contract
A mutually binding legal rel..
Certificate of Competency
A certificate issued by the Small Bus...
Current Liabilities
A balance sheet item, which...

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