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.
Request for Proposal (RFP)
A document outlining a...
Cash Flow Test
Part of the CET that determines if...
Companion File
When an applicant has another application filed...
Operating Leases
are deducted on the company’s...
Limited Partnership
A business organization with one or...
Electronic Data Interchange
Transmission of information bet...
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Economic Injury Disaster Loan (EIDL)
a working capital loan that...
Days Receivable
A measure of the average time a...
Current Liabilities
A balance sheet item, which...
P&L (Profit and Loss Statement)
also considered as Income Statement or...
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Defense Contractor
Any person who enters into...
Depreciation
A non-cash operating expense that...
Prime Contract
A contract awarded directly...

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