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.
Small Business Development Centers (SBDC)
SBDCs offer a broad spec...
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Subsidiary
A company for which a majority of the...
Best and Final Offer
For negotiated procurements...
SAE (Stand Alone Economic Injury Disaster Loan)
provide necessary working capital to...
Principal
the owner(s) of the Applicant Entity that...
Current Liabilities
A balance sheet item, which...
Liabilities
A financial obligation...
Contracting Officer
A person with the authority to...
Partnering
A mutually beneficial business-to-bus...
DBA
ex. Blocker & Sons LLC, doing business as Bob's Burgers
Trend Analysis
A comparative analysis of...
Defense Contractor
Any person who enters into...
Phase 1
Process used to determine the...
Acquisition
The acquiring of supplies or...

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