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.
Contract
A mutually binding legal rel..
Depreciation
A non-cash operating expense that...
Equity
An accounting term used to...
Small Business
A business smaller than...
Lien
A legal claim against an...
Current Liabilities
A balance sheet item, which...
Operating Leases
are deducted on the company’s...
Primary Activity
The major business activity of...
DBA
ex. Blocker & Sons LLC, doing business as Bob's Burgers
Collateral
Assets pledged by a borrower to secure a loan...
Coastal Barrier Resource Area (COBRA)
A flood prone area in which...
Normal Annual Sales
Those sales that would have...
Acquisition
The acquiring of supplies or...
Hardship Waiver
Method used to approve a...
Guarantor
The legal entity and...

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