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.
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Subcontract
A contract between a prime cont...
Defense Acquisition Regulatory Council (DARC)
A group composed of rep...
Normal Gross Margin
The margin that would have been...
Intermediary Organization
Organizations that play a funda...
Subsidiary
A company for which a majority of the...
NAICS
NAICS codes are common...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Lien
A legal claim against an...
Negotiation
Contracting through the use of...
Comparative Analysis
Is designed to point out significant trends that...
Small Business
A business smaller than...
Coastal Barrier Resource Area (COBRA)
A flood prone area in which...
Economic Injury Disaster Loan (EIDL)
a working capital loan that...
Sole Proprietor
an individual who...

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