Saturday 22 September 2012

Glossary Of Small Business Terms part 9


CIVILIAN AGENCY ACQUISITION COUNCIL (CAAC) Civilian Agency Acquisition Council (CAAC).

CLOSED LOAN Any loan for which funds have been disbursed, and all required documentation has been executed, received and reviewed. For statistical purposes, first or total disbursement is counted as a closed loan.

CLOSING Actions and procedures required to effect the documentation and disbursement of loan funds after the application has been approved, and the execution of all required documentation and its filing and recordation where required.

CLP Certified Lender Program The most active and expert lenders qualify for the SBA's streamlined lending programs. Under these programs, lenders are delegated partial or full authority to approve loans, which results in faster service from SBA. Certified lenders are those who have been heavily involved in regular SBA loan-guaranty processing and have met certain other criteria. They receive a partial delegation of authority and are given a three-day turnaround by the SBA on their applications (they may also use regular SBA loan processing). Certified lenders account for nearly a third of all SBA business loan guaranties.

CMRs Commercial Market Representatives SBA's Commercial Market Representatives (CMR's), located in area offices, assist small businesses in obtaining subcontracts by
marketing small businesses and matching them with large prime contractors.

COC Certificate of Competency The Certificate of Competency (COC) program allows a small business to appeal a contracting officer's determination that it is unable to fulfill the requirements of a specific government contract on which it is the apparent low bidder. When the small business applies for a COC, SBA industrial and financial specialists conduct a detailed review of the firm's capabilities to perform on the contract. If the business demonstrates the ability to perform, the SBA issues a COC to the contracting officer requiring the award of that specific contract to the small business.

COLLATERAL Something of value--securities, evidence of deposit or other property-- pledged to support the repayment of an obligation. Also one of the Five "Cs" used in determining a loan applicant's credit worthiness. COLLATERAL DOCUMENT A legal document covering the item(s) pledged as collateral on a loan, i.e., note, mortgages, assignment, etc.

COLLECTION POLICY Actions a business takes to collect slow-paying accounts.

COMMERCE BUSINESS DAILY (CBD) The Commerce Business Daily lists notices of proposed government procurement actions, contract awards, sales of government property, and other procurement information. All federal procurement offices are



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