Glossary
SBA Terms

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
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SBA 7a Loans

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

SBA 504 Loans

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

SBA Microloans

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

Common SBA Terms

Everything you need to know about common terms used to discuss SBA Loans.
Standard Industrial Classification (SIC) Code
A code representing a category within...
Adjusted Net Worth
Post disaster fair market value of tangible...
Injury Period
The time period during...
Applicant Entity
The business entity requesting...
Days Payable
A measure of the average time a...
Normal Annual Sales
Those sales that would have...
Electronic Data Interchange
Transmission of information bet...
Certificate of Competency
A certificate issued by the Small Bus...
Equity
An accounting term used to...
Contract
A mutually binding legal rel..
NAICS
NAICS codes are common...
Affiliates
Business concerns, organizations, or...
Injury Analysis
Measures the effects of...
Primary Activity
The major business activity of...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...

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