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.
Certificate of Competency
A certificate issued by the Small Bus...
Credit Elsewhere Test (CET)
The test to determine the...
Limited Liability Entities (company/partnership)
An LLE provides business owners with...
Break-even Analysis
A calculation of the approximate sales...
Comparative Analysis
Is designed to point out significant trends that...
Coastal Barrier Resource Area (COBRA)
A flood prone area in which...
Affiliate
Business concerns are affiliates if one concern...
Electronic Data Interchange
Transmission of information bet...
Contracting Officer
A person with the authority to...
Full and Open Competition
With respect to a contract action...
Injury Period
The time period during...
Economic Injury Disaster Loan (EIDL)
a working capital loan that...
Cash Flow Test
Part of the CET that determines if...
Defense Contractor
Any person who enters into...
SCORE
Counselors to America's Small Bus...

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