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...
Income Statement
Shows the entity’s income and...
Operating Leases
are deducted on the company’s...
Injury Analysis
Measures the effects of...
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Sole Proprietor
an individual who...
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...
Credit Elsewhere Test (CET)
The test to determine the...
Hardship Waiver
Method used to approve a...
Break-even Analysis
A calculation of the approximate sales...
SAE (Stand Alone Economic Injury Disaster Loan)
provide necessary working capital to...
GPM%
The measure of every sales dollar left...
Defense Acquisition Regulatory Council (DARC)
A group composed of rep...

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