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.
Normal Gross Margin
The margin that would have been...
Limited Liability Entities (company/partnership)
An LLE provides business owners with...
Applicant/Co-Applicant
Business entity and person requesting...
Projection
An estimate of future economic or...
Small Business Development Centers (SBDC)
SBDCs offer a broad spec...
Extraordinary Items
Additional expenses that are...
Small Business
A business smaller than...
Physical Loans
Funds to repair/replace dis...
Electronic Data Interchange
Transmission of information bet...
Mentor
A business, usually large, or...
Affiliate
Business concerns are affiliates if one concern...
SAE (Stand Alone Economic Injury Disaster Loan)
provide necessary working capital to...
Subsidiary
A company for which a majority of the...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Adjusted Net Worth
Post disaster fair market value of tangible...

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