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.
S-Corporation
A form of corporation, allowed by...
Days Receivable
A measure of the average time a...
Contracting Officer
A person with the authority to...
Break-even Analysis
A calculation of the approximate sales...
DBA
ex. Blocker & Sons LLC, doing business as Bob's Burgers
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Working Capital (WC)
The amount of current assets that...
Collateral
Assets pledged by a borrower to secure a loan...
Applicant Entity
The business entity requesting...
Request for Proposal (RFP)
A document outlining a...
Small Business
A business smaller than...
Substantial Damage
This means uninsured or otherwise uncompensated...
Applicant/Co-Applicant
Business entity and person requesting...
Certificate of Competency
A certificate issued by the Small Bus...
Injury Period
The time period during...

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