Glossary
SBA Terms

Subcontract

A contract between a prime contractor and a subcontractor to furnish supplies or services for the performance of a prime contract or subcontract.

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.
Schedule of Liabilities
A business debt schedule that lists all of the debts...
Full and Open Competition
With respect to a contract action...
Comparative Analysis
Is designed to point out significant trends that...
Income Statement
Shows the entity’s income and...
Hardship Waiver
Method used to approve a...
Best and Final Offer
For negotiated procurements...
Guarantor
The legal entity and...
Joint Venture
In the SBA Mentor-Protégé Program...
Standard Industrial Classification (SIC) Code
A code representing a category within...
Cash-basis Accounting
records revenue when cash is...
Assets
The amount of current assets that is left...
Amortization
A non-cash operating expense that...
Capital Leases
are for the purchase of fixed assets such as...
Prime Contract
A contract awarded directly...
Corporation (C-corp.)
The most common form of business org...

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