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.
Comparative Analysis
Is designed to point out significant trends that...
Coastal Barrier Resource Area (COBRA)
A flood prone area in which...
Phase 2
Process to be used to determine economic injury for...
Physical Loans
Funds to repair/replace dis...
Small Disadvantaged Business Concern
A small business concern that...
Standard Industrial Classification (SIC) Code
A code representing a category within...
Negotiation
Contracting through the use of...
Joint Venture
In the SBA Mentor-Protégé Program...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Cash-basis Accounting
records revenue when cash is...
S-Corporation
A form of corporation, allowed by...
Liabilities
A financial obligation...
Economic Injury Disaster Loan (EIDL)
a working capital loan that...
Affiliated Group
When two or more...
Contracting Officer
A person with the authority to...

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