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.
Operating Leases
are deducted on the company’s...
Duplicated Interest
The amount of interest exp...
Joint Venture
In the SBA Mentor-Protégé Program...
Assets
The amount of current assets that is left...
Intermediary Organization
Organizations that play a funda...
Subcontract
A contract between a prime cont...
Best and Final Offer
For negotiated procurements...
Contracting Officer
A person with the authority to...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Extraordinary Items
Additional expenses that are...
Small Disadvantaged Business Concern
A small business concern that...
Current Liabilities
A balance sheet item, which...
Comparative Analysis
Is designed to point out significant trends that...
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Economic Injury Disaster Loan (EIDL)
a working capital loan that...

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