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.
Depreciation
A non-cash operating expense that...
Certificate of Competency
A certificate issued by the Small Bus...
Limited Partnership
A business organization with one or...
Economic Injury Disaster Loan (EIDL)
a working capital loan that...
Acquisition
The acquiring of supplies or...
Current Liabilities
A balance sheet item, which...
Projection
An estimate of future economic or...
Comparative Analysis
Is designed to point out significant trends that...
Normal Gross Margin
The margin that would have been...
S-Corporation
A form of corporation, allowed by...
Cash-basis Accounting
records revenue when cash is...
Extraordinary Items
Additional expenses that are...
Request for Proposal (RFP)
A document outlining a...
Defense Contractor
Any person who enters into...
Business Activity
The business (or loss) activity of...

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