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.
Fair and Reasonable Price
A price that is fair to both parties...
Income Statement
Shows the entity’s income and...
Depreciation
A non-cash operating expense that...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
GPM%
The measure of every sales dollar left...
Emerging Small Business
A small business concern whose...
Collateral
Assets pledged by a borrower to secure a loan...
Protégé
A firm in a developmental stage that...
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Certificate of Competency
A certificate issued by the Small Bus...
Physical Loans
Funds to repair/replace dis...
Substantial Damage
This means uninsured or otherwise uncompensated...
Small Business Development Centers (SBDC)
SBDCs offer a broad spec...
Trend Analysis
A comparative analysis of...
Affiliated Group
When two or more...

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