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.
Principal
the owner(s) of the Applicant Entity that...
Joint Venture
In the SBA Mentor-Protégé Program...
Certificate of Competency
A certificate issued by the Small Bus...
Lien
A legal claim against an...
Credit Score Test
Part of the home loan CET show a...
Phase 2
Process to be used to determine economic injury for...
Subcontract
A contract between a prime cont...
Break-even Analysis
A calculation of the approximate sales...
P&L (Profit and Loss Statement)
also considered as Income Statement or...
Partnering
A mutually beneficial business-to-bus...
Request for Proposal (RFP)
A document outlining a...
Corporation (C-corp.)
The most common form of business org...
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Acquisition
The acquiring of supplies or...
Days Payable
A measure of the average time a...

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