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.
Schedule of Liabilities
A business debt schedule that lists all of the debts...
Small Disadvantaged Business Concern
A small business concern that...
Federal Acquisition Regulation (FAR)
The body of regulations which is...
Liabilities
A financial obligation...
Credit Elsewhere Test (CET)
The test to determine the...
Adjusted Net Worth
Post disaster fair market value of tangible...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Subsidiary
A company for which a majority of the...
Days Payable
A measure of the average time a...
Credit Score Test
Part of the home loan CET show a...
Injury Analysis
Measures the effects of...
Cash Flow Test
Part of the CET that determines if...
Current Liabilities
A balance sheet item, which...
GPM%
The measure of every sales dollar left...
Request for Proposal (RFP)
A document outlining a...

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