Source: SBA.gov

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

SBA 7a Loans

The 7(a) Loan Program, SBA’s most common loan program, includes assistance for each business with unique needs.

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SBA 504 Loans

SBA 504 loans are very popular for long-term, fixed rate financing of up to $5 million for major fixed assets.

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SBA Microloans

The average Microloan is about $13,000. The Microloans program provides loans up to $50,000 to small businesses.

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SBA Glossary

Common SBA Terms

Everything you need to know about common terms used to discuss SBA Loans.

Sole Proprietor

an individual who...

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Corporation (C-corp.)

The most common form of business org...

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Cash Available to Service Additional Debt (CASAD)

The cash flow determined that...

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Phase 1

Process used to determine the...

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Business Activity

The business (or loss) activity of...

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Available Asset Test

Part of the CET that determines if an applicant(s) has...

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Standard Industrial Classification (SIC) Code

A code representing a category within...

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Small Business

A business smaller than...

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SAE (Stand Alone Economic Injury Disaster Loan)

provide necessary working capital to...

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Principal

the owner(s) of the Applicant Entity that...

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Duplicated Interest

The amount of interest exp...

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Extraordinary Items

Additional expenses that are...

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Accrual Basis Accounting

recognizes revenues when earned and expenses are...

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Small Business Development Centers (SBDC)

SBDCs offer a broad spec...

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Loan Authorization and Agreement (LA&A)

A contract between SBA and the borrower that...

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