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.
Fair and Reasonable Price
A price that is fair to both parties...
Normal Gross Margin
The margin that would have been...
Standard Industrial Classification (SIC) Code
A code representing a category within...
Limited Liability Entities (company/partnership)
An LLE provides business owners with...
Normal Annual Sales
Those sales that would have...
GPM%
The measure of every sales dollar left...
Small Business
A business smaller than...
Full and Open Competition
With respect to a contract action...
Hardship Waiver
Method used to approve a...
Joint Venture
In the SBA Mentor-Protégé Program...
Phase 1
Process used to determine the...
Injury Analysis
Measures the effects of...
Adjusted Net Worth
Post disaster fair market value of tangible...
Liabilities
A financial obligation...
SCORE
Counselors to America's Small Bus...

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