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.
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.
Companion File
When an applicant has another application filed...
Applicant Entity
The business entity requesting...
Days Receivable
A measure of the average time a...
Lien
A legal claim against an...
Affiliated Group
When two or more...
Phase 2
Process to be used to determine economic injury for...
Current Liabilities
A balance sheet item, which...
Phase 1
Process used to determine the...
Injury Analysis
Measures the effects of...
Projection
An estimate of future economic or...
Applicant Individual
aka who is requesting an SBA loan...
Trend Analysis
A comparative analysis of...
Limited Partnership
A business organization with one or...
Collateral
Assets pledged by a borrower to secure a loan...
Small Business Development Centers (SBDC)
SBDCs offer a broad spec...

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