Glossary
SBA Terms

Full and Open Competition

With respect to a contract action, "full and open" competition means that all responsible sources are permitted to compete.

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.
Explore 7a loans

SBA 504 Loans

SBA 504 loans are very popular for long-term, fixed rate financing of up to $5 million for major fixed assets.
Explore 504 loans

SBA Microloans

The average Microloan is about $13,000. The Microloans program provides loans up to $50,000 to small businesses.
Explore microloans
SBA Glossary

Common SBA Terms

Everything you need to know about common terms used to discuss SBA Loans.
Applicant Entity
The business entity requesting...
Protégé
A firm in a developmental stage that...
SAE (Stand Alone Economic Injury Disaster Loan)
provide necessary working capital to...
Equity
An accounting term used to...
Business Activity
The business (or loss) activity of...
Phase 2
Process to be used to determine economic injury for...
Affiliate
Business concerns are affiliates if one concern...
Affiliates
Business concerns, organizations, or...
Current Assets
A balance sheet item which equals...
P&L (Profit and Loss Statement)
also considered as Income Statement or...
Request for Proposal (RFP)
A document outlining a...
Small Business
A business smaller than...
Best and Final Offer
For negotiated procurements...
Economic Injury Disaster Loan (EIDL)
a working capital loan that...
Corporation (C-corp.)
The most common form of business org...

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