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.
SCORE
Counselors to America's Small Bus...
Acquisition
The acquiring of supplies or...
Current Assets
A balance sheet item which equals...
Partnering
A mutually beneficial business-to-bus...
Joint Venture
In the SBA Mentor-Protégé Program...
Capital Leases
are for the purchase of fixed assets such as...
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Normal Gross Margin
The margin that would have been...
Small Business
A business smaller than...
Affiliated Group
When two or more...
NAICS
NAICS codes are common...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Operating Leases
are deducted on the company’s...
SAE (Stand Alone Economic Injury Disaster Loan)
provide necessary working capital to...
Defense Contractor
Any person who enters into...

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