Loan Authorization and Agreement (LA&A)

A contract between SBA and the borrower that spells out the terms and conditions of the loan.

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.
Liabilities
A financial obligation...
Equity
An accounting term used to...
Physical Loans
Funds to repair/replace dis...
Credit Score Test
Part of the home loan CET show a...
Projection
An estimate of future economic or...
Fair and Reasonable Price
A price that is fair to both parties...
Guarantor
The legal entity and...
Applicant Individual
aka who is requesting an SBA loan...
Sole Proprietor
an individual who...
Schedule of Liabilities
A business debt schedule that lists all of the debts...
Cash-basis Accounting
records revenue when cash is...
Prime Contract
A contract awarded directly...
Depreciation
A non-cash operating expense that...
Current Assets
A balance sheet item which equals...
Electronic Data Interchange
Transmission of information bet...

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