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...
Applicant Entity
The business entity requesting...
SCORE
Counselors to America's Small Bus...
Schedule of Liabilities
A business debt schedule that lists all of the debts...
Working Capital (WC)
The amount of current assets that...
Capital Leases
are for the purchase of fixed assets such as...
Adjusted Net Worth
Post disaster fair market value of tangible...
Primary Activity
The major business activity of...
Subcontract
A contract between a prime cont...
Comparative Analysis
Is designed to point out significant trends that...
Contractor Team Arrangement
An arrangement in which...
Partnership
A type of unincorporated business org...
Small Business
A business smaller than...
Normal Annual Sales
Those sales that would have...
Subsidiary
A company for which a majority of the...

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