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Certificate of Good Standing

What is a Certificate of Good Standing?

A certificate of good standing (also known in some states as a Certificate of status or existence) is a general term for a state credential demonstrating that a business has met any required licensing and regulatory standards to operate. When it comes to small business loans and accounts, banks also request a certificate of good standing. A certificate of good standing also enables companies to demonstrate legal conformity in their home state by registering as a foreign enterprise in other states.