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.
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.
Equity
An accounting term used to...
Injury Period
The time period during...
NAICS
NAICS codes are common...
Negotiation
Contracting through the use of...
Small Business
A business smaller than...
B/E (Business EIDL) Loan
A business loan that...
DBA
ex. Blocker & Sons LLC, doing business as Bob's Burgers
Small Disadvantaged Business Concern
A small business concern that...
Substantial Damage
This means uninsured or otherwise uncompensated...
SAE (Stand Alone Economic Injury Disaster Loan)
provide necessary working capital to...
Applicant/Co-Applicant
Business entity and person requesting...
Principal
the owner(s) of the Applicant Entity that...
Comparative Analysis
Is designed to point out significant trends that...
Adjusted Net Worth
Post disaster fair market value of tangible...
Defense Contractor
Any person who enters into...

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