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.
Hardship Waiver
Method used to approve a...
Injury Period
The time period during...
NAICS
NAICS codes are common...
Amortization
A non-cash operating expense that...
Trend Analysis
A comparative analysis of...
Joint Venture
In the SBA Mentor-Protégé Program...
Certificate of Competency
A certificate issued by the Small Bus...
Principal
the owner(s) of the Applicant Entity that...
Coastal Barrier Resource Area (COBRA)
A flood prone area in which...
Subsidiary
A company for which a majority of the...
Days Receivable
A measure of the average time a...
Contractor Team Arrangement
An arrangement in which...
Electronic Data Interchange
Transmission of information bet...
Substantial Damage
This means uninsured or otherwise uncompensated...
Phase 2
Process to be used to determine economic injury for...

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