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.
Protégé
A firm in a developmental stage that...
Subsidiary
A company for which a majority of the...
Contractor Team Arrangement
An arrangement in which...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Phase 2
Process to be used to determine economic injury for...
Coastal Barrier Resource Area (COBRA)
A flood prone area in which...
Cash Flow Test
Part of the CET that determines if...
NAICS
NAICS codes are common...
Credit Elsewhere Test (CET)
The test to determine the...
Primary Activity
The major business activity of...
Physical Loans
Funds to repair/replace dis...
Small Disadvantaged Business Concern
A small business concern that...
Small Business
A business smaller than...
GPM%
The measure of every sales dollar left...
Guarantor
The legal entity and...

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