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.
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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...
Joint Venture
In the SBA Mentor-Protégé Program...
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Economic Injury Disaster Loan (EIDL)
a working capital loan that...
Corporation (C-corp.)
The most common form of business org...
Limited Partnership
A business organization with one or...
Coastal Barrier Resource Area (COBRA)
A flood prone area in which...
Schedule of Liabilities
A business debt schedule that lists all of the debts...
Affiliated Group
When two or more...
S-Corporation
A form of corporation, allowed by...
Principal
the owner(s) of the Applicant Entity that...
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Applicant Entity
The business entity requesting...
Credit Elsewhere Test (CET)
The test to determine the...
Phase 2
Process to be used to determine economic injury for...

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