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.
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SBA 504 Loans

SBA 504 loans are very popular for long-term, fixed rate financing of up to $5 million for major fixed assets.
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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.
P&L (Profit and Loss Statement)
also considered as Income Statement or...
Economic Injury Disaster Loan (EIDL)
a working capital loan that...
S-Corporation
A form of corporation, allowed by...
GPM%
The measure of every sales dollar left...
Amortization
A non-cash operating expense that...
Negotiation
Contracting through the use of...
Current Assets
A balance sheet item which equals...
Protégé
A firm in a developmental stage that...
Normal Annual Sales
Those sales that would have...
Cash Flow Test
Part of the CET that determines if...
Sole Proprietor
an individual who...
Collateral
Assets pledged by a borrower to secure a loan...
Subcontract
A contract between a prime cont...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Extraordinary Items
Additional expenses that are...

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