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.
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SBA Glossary

Common SBA Terms

Everything you need to know about common terms used to discuss SBA Loans.
Best and Final Offer
For negotiated procurements...
Joint Venture
In the SBA Mentor-Protégé Program...
Normal Annual Sales
Those sales that would have...
Injury Analysis
Measures the effects of...
Guarantor
The legal entity and...
Federal Acquisition Regulation (FAR)
The body of regulations which is...
Affiliated Group
When two or more...
Partnering
A mutually beneficial business-to-bus...
Contractor Team Arrangement
An arrangement in which...
Assets
The amount of current assets that is left...
Current Liabilities
A balance sheet item, which...
Defense Acquisition Regulatory Council (DARC)
A group composed of rep...
Corporation (C-corp.)
The most common form of business org...
S-Corporation
A form of corporation, allowed by...
Affiliate
Business concerns are affiliates if one concern...

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