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.
Liabilities
A financial obligation...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Affiliates
Business concerns, organizations, or...
Subcontract
A contract between a prime cont...
Collateral
Assets pledged by a borrower to secure a loan...
Partnering
A mutually beneficial business-to-bus...
SAE (Stand Alone Economic Injury Disaster Loan)
provide necessary working capital to...
Limited Liability Entities (company/partnership)
An LLE provides business owners with...
Break-even Analysis
A calculation of the approximate sales...
Phase 1
Process used to determine the...
Contract
A mutually binding legal rel..
Federal Acquisition Regulation (FAR)
The body of regulations which is...
Defense Contractor
Any person who enters into...
Credit Score Test
Part of the home loan CET show a...
Normal Annual Sales
Those sales that would have...

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