Certificate of Competency

A certificate issued by the Small Business Administration (SBA) stating that the holder is "responsible" (in terms of capability, competency, capacity, credit, integrity, perseverance, and tenacity) for the purpose of receiving and performing a specific government contract.

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.
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Defense Acquisition Regulatory Council (DARC)
A group composed of rep...
Days Payable
A measure of the average time a...
Subsidiary
A company for which a majority of the...
Credit Elsewhere Test (CET)
The test to determine the...
Cash Available to Service Additional Debt (CASAD)
The cash flow determined that...
Standard Industrial Classification (SIC) Code
A code representing a category within...
Small Business
A business smaller than...
Contract
A mutually binding legal rel..
Projection
An estimate of future economic or...
Companion File
When an applicant has another application filed...
Coastal Barrier Resource Area (COBRA)
A flood prone area in which...
Subcontract
A contract between a prime cont...
SAE (Stand Alone Economic Injury Disaster Loan)
provide necessary working capital to...
Lien
A legal claim against an...

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