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
The 7(a) Loan Program, SBA’s most common loan program, includes assistance for each business with unique needs.
SBA 504 loans are very popular for long-term, fixed rate financing of up to $5 million for major fixed assets.
The average Microloan is about $13,000. The Microloans program provides loans up to $50,000 to small businesses.
SBA Glossary

Common SBA Terms

Everything you need to know about common terms used to discuss SBA Loans.
Partnering
A mutually beneficial business-to-bus...
Affiliate
Business concerns are affiliates if one concern...
Projection
An estimate of future economic or...
Principal
the owner(s) of the Applicant Entity that...
Days Payable
A measure of the average time a...
Depreciation
A non-cash operating expense that...
Joint Venture
In the SBA Mentor-Protégé Program...
DBA
ex. Blocker & Sons LLC, doing business as Bob's Burgers
Limited Liability Entities (company/partnership)
An LLE provides business owners with...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Phase 1
Process used to determine the...
Limited Partnership
A business organization with one or...
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Defense Contractor
Any person who enters into...
Applicant Individual
aka who is requesting an SBA loan...

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