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.
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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.
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Subcontract
A contract between a prime cont...
Comparative Analysis
Is designed to point out significant trends that...
SCORE
Counselors to America's Small Bus...
Sole Proprietor
an individual who...
Schedule of Liabilities
A business debt schedule that lists all of the debts...
DBA
ex. Blocker & Sons LLC, doing business as Bob's Burgers
Fair and Reasonable Price
A price that is fair to both parties...
Protégé
A firm in a developmental stage that...
Affiliate
Business concerns are affiliates if one concern...
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Hardship Waiver
Method used to approve a...
Trend Analysis
A comparative analysis of...
Cash-basis Accounting
records revenue when cash is...
Normal Gross Margin
The margin that would have been...

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