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.
DBA
ex. Blocker & Sons LLC, doing business as Bob's Burgers
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Current Liabilities
A balance sheet item, which...
Companion File
When an applicant has another application filed...
Hardship Waiver
Method used to approve a...
Applicant/Co-Applicant
Business entity and person requesting...
Applicant Individual
aka who is requesting an SBA loan...
Business Activity
The business (or loss) activity of...
Normal Gross Margin
The margin that would have been...
Extraordinary Items
Additional expenses that are...
Defense Contractor
Any person who enters into...
Emerging Small Business
A small business concern whose...
B/E (Business EIDL) Loan
A business loan that...
Liabilities
A financial obligation...
Comparative Analysis
Is designed to point out significant trends that...

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