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.
Companion File
When an applicant has another application filed...
Primary Activity
The major business activity of...
Cash Available to Service Additional Debt (CASAD)
The cash flow determined that...
NAICS
NAICS codes are common...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
S-Corporation
A form of corporation, allowed by...
Small Business Development Centers (SBDC)
SBDCs offer a broad spec...
Affiliates
Business concerns, organizations, or...
Current Liabilities
A balance sheet item, which...
Schedule of Liabilities
A business debt schedule that lists all of the debts...
Depreciation
A non-cash operating expense that...
Defense Contractor
Any person who enters into...
Days Payable
A measure of the average time a...
Corporation (C-corp.)
The most common form of business org...

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