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.
Hardship Waiver
Method used to approve a...
Prime Contract
A contract awarded directly...
Cash-basis Accounting
records revenue when cash is...
Cash Flow Test
Part of the CET that determines if...
Partnering
A mutually beneficial business-to-bus...
Working Capital (WC)
The amount of current assets that...
GPM%
The measure of every sales dollar left...
Applicant Individual
aka who is requesting an SBA loan...
Capital Leases
are for the purchase of fixed assets such as...
Cash Available to Service Additional Debt (CASAD)
The cash flow determined that...
Federal Acquisition Regulation (FAR)
The body of regulations which is...
Current Liabilities
A balance sheet item, which...
Operating Leases
are deducted on the company’s...
Contracting
Purchasing, renting, leasing, or...
Phase 1
Process used to determine the...

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