CERTIFICATE OF COMPETENCY COC 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.
CERTIFICATE OF DEPOSIT Short-term instruments issued by
commercial banks.
CERTIFICATION(s) or QUALIFICATION(s) REQUIREMEMTS(s)
"Certification" as a small business, as a socially and economically
disadvantaged small business, as a woman owned or veteran-owned business is
required to be eligible for some SBA programs. Information on obtaining these
and other certifications is available at "More..."
CERTIFIED 8(a) FIRM A firm owned and operated by socially
and economically disadvantaged individuals and eligible to receive federal
contracts under the Small Business Administration’s 8(a) Business Development
Program.
CERTIFIED DEVELOPMENT COMPANY CDC A Certified
Development Company is a nonprofit corporation set up to contribute to the
economic development of its community. CDCs work with the SBA and
private-sector lenders to provide financing to small businesses. There are
about 270 CDCs nationwide. Each CDC covers a specific geographic area
CERTIFIED LENDER PROGRAM CLP 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.
CHARACTER The degree to which a potential borrower
feels a moral obligation to repay debts as evidenced by the borrower's credit
and payment history. One of the "Five Cs" used in a lending officer's
determination of a particular loan applicant's credit-worthiness.
CHARGED OFF LOAN An uncollectible loan for which the
principal and accrued interest were removed from the receivable accounts.
CHARGE-OFF An accounting transaction removing an
uncollectible balance from the active receivable accounts.
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