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.
Acquisition
The acquiring of supplies or...
Small Business
A business smaller than...
Physical Loans
Funds to repair/replace dis...
Days Payable
A measure of the average time a...
SCORE
Counselors to America's Small Bus...
Protégé
A firm in a developmental stage that...
Partnership
A type of unincorporated business org...
Contracting Officer
A person with the authority to...
Primary Activity
The major business activity of...
Capital Leases
are for the purchase of fixed assets such as...
Best and Final Offer
For negotiated procurements...
Days Receivable
A measure of the average time a...
Break-even Analysis
A calculation of the approximate sales...
Applicant Entity
The business entity requesting...
Normal Annual Sales
Those sales that would have...

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