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.
Applicant Individual
aka who is requesting an SBA loan...
Request for Proposal (RFP)
A document outlining a...
Defense Contractor
Any person who enters into...
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Amortization
A non-cash operating expense that...
Corporation (C-corp.)
The most common form of business org...
Certificate of Competency
A certificate issued by the Small Bus...
Fair and Reasonable Price
A price that is fair to both parties...
Collateral
Assets pledged by a borrower to secure a loan...
GPM%
The measure of every sales dollar left...
Trend Analysis
A comparative analysis of...
Current Assets
A balance sheet item which equals...
Limited Liability Entities (company/partnership)
An LLE provides business owners with...
Best and Final Offer
For negotiated procurements...
Mentor
A business, usually large, or...

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