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.
Certificate of Competency
A certificate issued by the Small Bus...
Small Business
A business smaller than...
Mentor
A business, usually large, or...
Prime Contract
A contract awarded directly...
Business Activity
The business (or loss) activity of...
Federal Acquisition Regulation (FAR)
The body of regulations which is...
Comparative Analysis
Is designed to point out significant trends that...
SAE (Stand Alone Economic Injury Disaster Loan)
provide necessary working capital to...
Sole Proprietor
an individual who...
Request for Proposal (RFP)
A document outlining a...
Current Assets
A balance sheet item which equals...
Applicant Individual
aka who is requesting an SBA loan...
Physical Loans
Funds to repair/replace dis...
Emerging Small Business
A small business concern whose...
Acquisition
The acquiring of supplies or...

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