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.
Best and Final Offer
For negotiated procurements...
Days Payable
A measure of the average time a...
DBA
ex. Blocker & Sons LLC, doing business as Bob's Burgers
Subcontract
A contract between a prime cont...
Operating Leases
are deducted on the company’s...
Depreciation
A non-cash operating expense that...
P&L (Profit and Loss Statement)
also considered as Income Statement or...
Normal Gross Margin
The margin that would have been...
Small Disadvantaged Business Concern
A small business concern that...
Income Statement
Shows the entity’s income and...
Duplicated Interest
The amount of interest exp...
Collateral
Assets pledged by a borrower to secure a loan...
Comparative Analysis
Is designed to point out significant trends that...
Schedule of Liabilities
A business debt schedule that lists all of the debts...
Injury Analysis
Measures the effects of...

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