Glossary
SBA Terms

Hardship Waiver

Method used to approve a lower interest rate, when one of the CET test conclusions results in a high rate determination.

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.
Limited Partnership
A business organization with one or...
Negotiation
Contracting through the use of...
NAICS
NAICS codes are common...
Adjusted Net Worth
Post disaster fair market value of tangible...
Injury Period
The time period during...
DBA
ex. Blocker & Sons LLC, doing business as Bob's Burgers
Break-even Analysis
A calculation of the approximate sales...
Joint Venture
In the SBA Mentor-Protégé Program...
Emerging Small Business
A small business concern whose...
Current Assets
A balance sheet item which equals...
Small Business
A business smaller than...
Credit Elsewhere Test (CET)
The test to determine the...
Collateral
Assets pledged by a borrower to secure a loan...
Applicant Entity
The business entity requesting...
Limited Liability Entities (company/partnership)
An LLE provides business owners with...

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