Glossary
SBA Terms

Joint Venture

In the SBA Mentor-Protégé Program, an agreement between a certified 8(a) firm and a mentor firm to perform a specific federal contract.

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.
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Contract
A mutually binding legal rel..
Applicant Individual
aka who is requesting an SBA loan...
Cash-basis Accounting
records revenue when cash is...
Joint Venture
In the SBA Mentor-Protégé Program...
Small Business
A business smaller than...
Credit Elsewhere Test (CET)
The test to determine the...
Partnering
A mutually beneficial business-to-bus...
Subsidiary
A company for which a majority of the...
Defense Contractor
Any person who enters into...
Credit Score Test
Part of the home loan CET show a...
Request for Proposal (RFP)
A document outlining a...
S-Corporation
A form of corporation, allowed by...
Applicant/Co-Applicant
Business entity and person requesting...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...

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