Glossary
SBA Terms

Primary Activity

The major business activity of the single legal entity or affiliated group, which is their predominant field of operation. (Commonly known as the Main Activity)

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.
NAICS
NAICS codes are common...
Normal Gross Margin
The margin that would have been...
Extraordinary Items
Additional expenses that are...
Applicant Individual
aka who is requesting an SBA loan...
Prime Contract
A contract awarded directly...
Phase 1
Process used to determine the...
Capital Leases
are for the purchase of fixed assets such as...
Defense Acquisition Regulatory Council (DARC)
A group composed of rep...
Standard Industrial Classification (SIC) Code
A code representing a category within...
Duplicated Interest
The amount of interest exp...
Injury Period
The time period during...
Acquisition
The acquiring of supplies or...
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Companion File
When an applicant has another application filed...
Certificate of Competency
A certificate issued by the Small Bus...

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