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.
Adjusted Net Worth
Post disaster fair market value of tangible...
DBA
ex. Blocker & Sons LLC, doing business as Bob's Burgers
Business Activity
The business (or loss) activity of...
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Schedule of Liabilities
A business debt schedule that lists all of the debts...
Companion File
When an applicant has another application filed...
Protégé
A firm in a developmental stage that...
SAE (Stand Alone Economic Injury Disaster Loan)
provide necessary working capital to...
Cash-basis Accounting
records revenue when cash is...
Income Statement
Shows the entity’s income and...
Electronic Data Interchange
Transmission of information bet...
Request for Proposal (RFP)
A document outlining a...
Limited Liability Entities (company/partnership)
An LLE provides business owners with...
Applicant Individual
aka who is requesting an SBA loan...
Collateral
Assets pledged by a borrower to secure a loan...

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