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.
Normal Gross Margin
The margin that would have been...
Fair and Reasonable Price
A price that is fair to both parties...
Limited Liability Entities (company/partnership)
An LLE provides business owners with...
Subcontract
A contract between a prime cont...
Schedule of Liabilities
A business debt schedule that lists all of the debts...
Credit Elsewhere Test (CET)
The test to determine the...
Primary Activity
The major business activity of...
Contract
A mutually binding legal rel..
Adjusted Net Worth
Post disaster fair market value of tangible...
Injury Period
The time period during...
Electronic Data Interchange
Transmission of information bet...
Affiliated Group
When two or more...
Hardship Waiver
Method used to approve a...
DBA
ex. Blocker & Sons LLC, doing business as Bob's Burgers
Business Activity
The business (or loss) activity of...

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