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.
Joint Venture
In the SBA Mentor-Protégé Program...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Normal Annual Sales
Those sales that would have...
Principal
the owner(s) of the Applicant Entity that...
Limited Liability Entities (company/partnership)
An LLE provides business owners with...
DBA
ex. Blocker & Sons LLC, doing business as Bob's Burgers
Phase 2
Process to be used to determine economic injury for...
Applicant Entity
The business entity requesting...
Partnership
A type of unincorporated business org...
Depreciation
A non-cash operating expense that...
Days Payable
A measure of the average time a...
Standard Industrial Classification (SIC) Code
A code representing a category within...
Injury Period
The time period during...
Partnering
A mutually beneficial business-to-bus...
Cash Available to Service Additional Debt (CASAD)
The cash flow determined that...

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