Glossary
SBA Terms

Fair and Reasonable Price

A price that is fair to both parties, considering the agreed-upon conditions, promised quality, and timeliness of contract performance. "Fair and reasonable" price is subject to statutory and regulatory limitations.

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.
Projection
An estimate of future economic or...
Affiliates
Business concerns, organizations, or...
Trend Analysis
A comparative analysis of...
Lien
A legal claim against an...
Primary Activity
The major business activity of...
Physical Loans
Funds to repair/replace dis...
Full and Open Competition
With respect to a contract action...
Extraordinary Items
Additional expenses that are...
Certificate of Competency
A certificate issued by the Small Bus...
Applicant/Co-Applicant
Business entity and person requesting...
Applicant Entity
The business entity requesting...
Depreciation
A non-cash operating expense that...
Affiliate
Business concerns are affiliates if one concern...
Phase 2
Process to be used to determine economic injury for...
Defense Contractor
Any person who enters into...

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