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.
Coastal Barrier Resource Area (COBRA)
A flood prone area in which...
Credit Elsewhere Test (CET)
The test to determine the...
Protégé
A firm in a developmental stage that...
SCORE
Counselors to America's Small Bus...
Days Payable
A measure of the average time a...
Standard Industrial Classification (SIC) Code
A code representing a category within...
Projection
An estimate of future economic or...
Mentor
A business, usually large, or...
Certified 8(a) Firm
A firm owned and operated by socially and...
Physical Loans
Funds to repair/replace dis...
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Phase 2
Process to be used to determine economic injury for...
P&L (Profit and Loss Statement)
also considered as Income Statement or...
Defense Contractor
Any person who enters into...
DBA
ex. Blocker & Sons LLC, doing business as Bob's Burgers

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