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.
Current Assets
A balance sheet item which equals...
Phase 1
Process used to determine the...
Certified 8(a) Firm
A firm owned and operated by socially and...
Partnership
A type of unincorporated business org...
Affiliated Group
When two or more...
Economic Injury Disaster Loan (EIDL)
a working capital loan that...
Lien
A legal claim against an...
Phase 2
Process to be used to determine economic injury for...
Subsidiary
A company for which a majority of the...
Defense Contractor
Any person who enters into...
Hardship Waiver
Method used to approve a...
Days Receivable
A measure of the average time a...
SCORE
Counselors to America's Small Bus...
Capital Leases
are for the purchase of fixed assets such as...
Small Business Development Centers (SBDC)
SBDCs offer a broad spec...

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