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.
Working Capital (WC)
The amount of current assets that...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Schedule of Liabilities
A business debt schedule that lists all of the debts...
Subcontract
A contract between a prime cont...
Applicant/Co-Applicant
Business entity and person requesting...
S-Corporation
A form of corporation, allowed by...
Negotiation
Contracting through the use of...
Electronic Data Interchange
Transmission of information bet...
Contract
A mutually binding legal rel..
Primary Activity
The major business activity of...
Cash-basis Accounting
records revenue when cash is...
Cash Available to Service Additional Debt (CASAD)
The cash flow determined that...
Certified 8(a) Firm
A firm owned and operated by socially and...
DBA
ex. Blocker & Sons LLC, doing business as Bob's Burgers
Applicant Individual
aka who is requesting an SBA loan...

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