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.
Contract
A mutually binding legal rel..
Mentor
A business, usually large, or...
Assets
The amount of current assets that is left...
Schedule of Liabilities
A business debt schedule that lists all of the debts...
Days Payable
A measure of the average time a...
Coastal Barrier Resource Area (COBRA)
A flood prone area in which...
Business Activity
The business (or loss) activity of...
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
P&L (Profit and Loss Statement)
also considered as Income Statement or...
Limited Partnership
A business organization with one or...
Adjusted Net Worth
Post disaster fair market value of tangible...
Guarantor
The legal entity and...
Electronic Data Interchange
Transmission of information bet...
Standard Industrial Classification (SIC) Code
A code representing a category within...

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