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.
Injury Analysis
Measures the effects of...
Current Liabilities
A balance sheet item, which...
Phase 1
Process used to determine the...
Affiliates
Business concerns, organizations, or...
Adjusted Net Worth
Post disaster fair market value of tangible...
Liabilities
A financial obligation...
Assets
The amount of current assets that is left...
Partnership
A type of unincorporated business org...
Comparative Analysis
Is designed to point out significant trends that...
Subsidiary
A company for which a majority of the...
Economic Injury Disaster Loan (EIDL)
a working capital loan that...
Limited Partnership
A business organization with one or...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Cash-basis Accounting
records revenue when cash is...
Certified 8(a) Firm
A firm owned and operated by socially and...

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