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.
Affiliated Group
When two or more...
Break-even Analysis
A calculation of the approximate sales...
Operating Leases
are deducted on the company’s...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Applicant Entity
The business entity requesting...
Full and Open Competition
With respect to a contract action...
Principal
the owner(s) of the Applicant Entity that...
Contractor Team Arrangement
An arrangement in which...
Partnership
A type of unincorporated business org...
Collateral
Assets pledged by a borrower to secure a loan...
Limited Liability Entities (company/partnership)
An LLE provides business owners with...
Affiliate
Business concerns are affiliates if one concern...
Affiliates
Business concerns, organizations, or...
Days Payable
A measure of the average time a...
Credit Score Test
Part of the home loan CET show a...

Get the quick rundown on SBA Loans

Join over 4,000+ small business owners already growing with us.