UNIFORM COMMERCIAL CODE Codification of uniform laws
concerning commercial transactions. In SBA parlance generally refers to a
uniform method of recording and enforcing a security interest or charge upon
existing or to be acquired personal property.
USURY Interest which exceeds the legal rate charged to a
borrower for the use of money.
VARIABLE COSTS Those costs of doing business such as cost
of goods, shipping, handling and storage, sales commissions, etc., which are
directly related to the sales of goods or services.
VENDOR IDENTIFICATION PROGRAM (VIP) The Vendor
Identification Program (VIP) assists small businesses by identifying government
purchasers for the items they produce for large defense contractors. The
program helps SBA to increase competition by adding qualified sources to bidder
lists and creating prime contracting opportunities for small businesses.
Through the Vendor Identification Program, SBA matches the past procurement
history and acquisition needs of the government and identifies the actual manufacturer
of systems, subsystems, components, and spare parts. This expedites the procurement
process and facilitates the participation of small businesses as prime contractors.
VENTURE CAPITAL Money used to support new or unusual
commercial undertakings; equity, risk or speculative capital. This funding is
provided to new or existing firms that exhibit above-average growth rates, a
significant potential for market expansion and the need for additional
financing for business maintenance or expansion.
VSB Very Small Business Program The Very Small Business (VSB)
program is an extension of the small business set-aside program, administered
by SBA as a pilot to increase opportunities for VSB concerns. Procurement
requirements, including construction requirements, estimated to be between
$2,500 and $50,000 must be reserved for eligible VSB concerns in designated
pilot SBA districts.
WAIVER OF THE NONMANUFACTURER RULE Section 303 (h) of
Public Law 100-656 and Section 210 of Public Law 101-574 incorporated into the
Small Business Act requires that agency contracts be directed solely to small
business manufacturers under set-aside provisions. This requirement is commonly
referred to as the Non-manufacturer Rule. The Small Business Act also contains
provisions that allow the Administrator of the SBA to waive this requirement
when there are no small business manufacturers or processors available to
supply the product to the Federal Government.
WBC Women's Business Centers or Women's Business Center Each
women’s business center provides assistance and/or training in finance,
management, marketing,
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