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.
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Income Statement
Shows the entity’s income and...
Small Business Development Centers (SBDC)
SBDCs offer a broad spec...
S-Corporation
A form of corporation, allowed by...
Days Payable
A measure of the average time a...
Small Business
A business smaller than...
Limited Partnership
A business organization with one or...
Request for Proposal (RFP)
A document outlining a...
Guarantor
The legal entity and...
Certified 8(a) Firm
A firm owned and operated by socially and...
Adjusted Net Worth
Post disaster fair market value of tangible...
Injury Period
The time period during...
Negotiation
Contracting through the use of...
Duplicated Interest
The amount of interest exp...
Acquisition
The acquiring of supplies or...

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