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.
Operating Leases
are deducted on the company’s...
P&L (Profit and Loss Statement)
also considered as Income Statement or...
Affiliated Group
When two or more...
Coastal Barrier Resource Area (COBRA)
A flood prone area in which...
Capital Leases
are for the purchase of fixed assets such as...
Contract
A mutually binding legal rel..
Certified 8(a) Firm
A firm owned and operated by socially and...
Partnership
A type of unincorporated business org...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Collateral
Assets pledged by a borrower to secure a loan...
Best and Final Offer
For negotiated procurements...
Small Business Development Centers (SBDC)
SBDCs offer a broad spec...
Guarantor
The legal entity and...
Prime Contract
A contract awarded directly...
Protégé
A firm in a developmental stage that...

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