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.
Limited Partnership
A business organization with one or...
NAICS
NAICS codes are common...
Days Payable
A measure of the average time a...
Intermediary Organization
Organizations that play a funda...
Assets
The amount of current assets that is left...
Substantial Damage
This means uninsured or otherwise uncompensated...
Emerging Small Business
A small business concern whose...
Contracting
Purchasing, renting, leasing, or...
Applicant/Co-Applicant
Business entity and person requesting...
Standard Industrial Classification (SIC) Code
A code representing a category within...
Working Capital (WC)
The amount of current assets that...
Affiliated Group
When two or more...
Subsidiary
A company for which a majority of the...
Economic Injury Disaster Loan (EIDL)
a working capital loan that...
Acquisition
The acquiring of supplies or...

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