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.
Collateral
Assets pledged by a borrower to secure a loan...
Applicant Individual
aka who is requesting an SBA loan...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Normal Annual Sales
Those sales that would have...
Joint Venture
In the SBA Mentor-Protégé Program...
Subcontract
A contract between a prime cont...
Economic Injury Disaster Loan (EIDL)
a working capital loan that...
Operating Leases
are deducted on the company’s...
Request for Proposal (RFP)
A document outlining a...
Coastal Barrier Resource Area (COBRA)
A flood prone area in which...
Trend Analysis
A comparative analysis of...
Companion File
When an applicant has another application filed...
Defense Acquisition Regulatory Council (DARC)
A group composed of rep...
Primary Activity
The major business activity of...
Injury Analysis
Measures the effects of...

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