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.
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Amortization
A non-cash operating expense that...
Current Assets
A balance sheet item which equals...
Applicant/Co-Applicant
Business entity and person requesting...
Injury Analysis
Measures the effects of...
Credit Score Test
Part of the home loan CET show a...
Equity
An accounting term used to...
Defense Acquisition Regulatory Council (DARC)
A group composed of rep...
Break-even Analysis
A calculation of the approximate sales...
Affiliates
Business concerns, organizations, or...
Contractor Team Arrangement
An arrangement in which...
Economic Injury Disaster Loan (EIDL)
a working capital loan that...
Working Capital (WC)
The amount of current assets that...
Partnership
A type of unincorporated business org...

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