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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