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.
Economic Injury Disaster Loan (EIDL)
a working capital loan that...
Primary Activity
The major business activity of...
Best and Final Offer
For negotiated procurements...
Physical Loans
Funds to repair/replace dis...
Liabilities
A financial obligation...
Acquisition
The acquiring of supplies or...
Standard Industrial Classification (SIC) Code
A code representing a category within...
Current Liabilities
A balance sheet item, which...
Guarantor
The legal entity and...
Applicant Entity
The business entity requesting...
Certificate of Competency
A certificate issued by the Small Bus...
Trend Analysis
A comparative analysis of...
Electronic Data Interchange
Transmission of information bet...
Normal Gross Margin
The margin that would have been...
Schedule of Liabilities
A business debt schedule that lists all of the debts...

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