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.
Assets
The amount of current assets that is left...
Negotiation
Contracting through the use of...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Affiliates
Business concerns, organizations, or...
Prime Contract
A contract awarded directly...
Principal
the owner(s) of the Applicant Entity that...
Protégé
A firm in a developmental stage that...
Certificate of Competency
A certificate issued by the Small Bus...
Applicant Individual
aka who is requesting an SBA loan...
S-Corporation
A form of corporation, allowed by...
Coastal Barrier Resource Area (COBRA)
A flood prone area in which...
Affiliated Group
When two or more...
Capital Leases
are for the purchase of fixed assets such as...
Trend Analysis
A comparative analysis of...
Corporation (C-corp.)
The most common form of business org...

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