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.
Contracting Officer
A person with the authority to...
Prime Contract
A contract awarded directly...
Trend Analysis
A comparative analysis of...
GPM%
The measure of every sales dollar left...
Hardship Waiver
Method used to approve a...
Current Assets
A balance sheet item which equals...
Defense Acquisition Regulatory Council (DARC)
A group composed of rep...
Coastal Barrier Resource Area (COBRA)
A flood prone area in which...
Applicant/Co-Applicant
Business entity and person requesting...
Fair and Reasonable Price
A price that is fair to both parties...
Phase 2
Process to be used to determine economic injury for...
Operating Leases
are deducted on the company’s...
Partnering
A mutually beneficial business-to-bus...
Acquisition
The acquiring of supplies or...
Injury Period
The time period during...

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