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.
Comparative Analysis
Is designed to point out significant trends that...
Cash-basis Accounting
records revenue when cash is...
Contractor Team Arrangement
An arrangement in which...
Affiliates
Business concerns, organizations, or...
Days Receivable
A measure of the average time a...
Liabilities
A financial obligation...
Certified 8(a) Firm
A firm owned and operated by socially and...
Joint Venture
In the SBA Mentor-Protégé Program...
Contracting
Purchasing, renting, leasing, or...
Affiliate
Business concerns are affiliates if one concern...
Depreciation
A non-cash operating expense that...
Phase 1
Process used to determine the...
Corporation (C-corp.)
The most common form of business org...
Sole Proprietor
an individual who...
Small Disadvantaged Business Concern
A small business concern that...

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