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.
Negotiation
Contracting through the use of...
Normal Annual Sales
Those sales that would have...
Contractor Team Arrangement
An arrangement in which...
B/E (Business EIDL) Loan
A business loan that...
Fair and Reasonable Price
A price that is fair to both parties...
Companion File
When an applicant has another application filed...
Guarantor
The legal entity and...
Schedule of Liabilities
A business debt schedule that lists all of the debts...
Joint Venture
In the SBA Mentor-Protégé Program...
Lien
A legal claim against an...
Amortization
A non-cash operating expense that...
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Days Receivable
A measure of the average time a...
Contracting Officer
A person with the authority to...
Injury Period
The time period during...

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