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.
Adjusted Net Worth
Post disaster fair market value of tangible...
Best and Final Offer
For negotiated procurements...
Applicant/Co-Applicant
Business entity and person requesting...
Federal Acquisition Regulation (FAR)
The body of regulations which is...
Defense Acquisition Regulatory Council (DARC)
A group composed of rep...
Defense Contractor
Any person who enters into...
NAICS
NAICS codes are common...
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Full and Open Competition
With respect to a contract action...
Protégé
A firm in a developmental stage that...
Projection
An estimate of future economic or...
Trend Analysis
A comparative analysis of...
Current Liabilities
A balance sheet item, which...
Mentor
A business, usually large, or...
Days Payable
A measure of the average time a...

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