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.
Collateral
Assets pledged by a borrower to secure a loan...
Phase 1
Process used to determine the...
Depreciation
A non-cash operating expense that...
Request for Proposal (RFP)
A document outlining a...
Applicant/Co-Applicant
Business entity and person requesting...
Schedule of Liabilities
A business debt schedule that lists all of the debts...
Sole Proprietor
an individual who...
Projection
An estimate of future economic or...
Principal
the owner(s) of the Applicant Entity that...
Current Liabilities
A balance sheet item, which...
Corporation (C-corp.)
The most common form of business org...
Small Business
A business smaller than...
Comparative Analysis
Is designed to point out significant trends that...
Defense Contractor
Any person who enters into...
Intermediary Organization
Organizations that play a funda...

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