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.
S-Corporation
A form of corporation, allowed by...
Extraordinary Items
Additional expenses that are...
Partnership
A type of unincorporated business org...
NAICS
NAICS codes are common...
Credit Score Test
Part of the home loan CET show a...
Projection
An estimate of future economic or...
Principal
the owner(s) of the Applicant Entity that...
Affiliate
Business concerns are affiliates if one concern...
Liabilities
A financial obligation...
Affiliated Group
When two or more...
Limited Partnership
A business organization with one or...
Coastal Barrier Resource Area (COBRA)
A flood prone area in which...
Fair and Reasonable Price
A price that is fair to both parties...
Trend Analysis
A comparative analysis of...
Sole Proprietor
an individual who...

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