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.
Business Activity
The business (or loss) activity of...
Applicant Individual
aka who is requesting an SBA loan...
Subsidiary
A company for which a majority of the...
Acquisition
The acquiring of supplies or...
Subcontract
A contract between a prime cont...
Prime Contract
A contract awarded directly...
Capital Leases
are for the purchase of fixed assets such as...
Income Statement
Shows the entity’s income and...
S-Corporation
A form of corporation, allowed by...
Cash-basis Accounting
records revenue when cash is...
Full and Open Competition
With respect to a contract action...
Cash Available to Service Additional Debt (CASAD)
The cash flow determined that...
SAE (Stand Alone Economic Injury Disaster Loan)
provide necessary working capital to...
Request for Proposal (RFP)
A document outlining a...
Physical Loans
Funds to repair/replace dis...

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