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.
Companion File
When an applicant has another application filed...
Limited Liability Entities (company/partnership)
An LLE provides business owners with...
Cash Available to Service Additional Debt (CASAD)
The cash flow determined that...
Standard Industrial Classification (SIC) Code
A code representing a category within...
Subcontract
A contract between a prime cont...
S-Corporation
A form of corporation, allowed by...
Break-even Analysis
A calculation of the approximate sales...
Duplicated Interest
The amount of interest exp...
SCORE
Counselors to America's Small Bus...
Operating Leases
are deducted on the company’s...
Business Activity
The business (or loss) activity of...
Applicant Entity
The business entity requesting...
Contracting
Purchasing, renting, leasing, or...
Hardship Waiver
Method used to approve a...
Extraordinary Items
Additional expenses that are...

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