Decoding the steps to SBA 8A certification

There are five areas to determine whether or not a firm qualifies for SBA 8a certification or meets the requirements.  First and foremost the individuals running the firm and applying for certification need to establish beyond any doubt that they are socially and economically disadvantaged. The owner should have unconditional control of the firm so that the firm shouldn't have any control issues. Further, the firm should have no ethical issues and be absolutely free from ethical or other entanglements which might impair his or her judgment. The firm also has to establish its potential to complete federal contracts for SBA 8a certification and hence the applicants shouldn't try to paint themselves as too economically disadvantaged in their narratives, let the SBA consider them too weak to fulfill the federal contracts. 
                                                  
Economically disadvantaged means  that the 3 year average income should not exceed $250,000 for the firm excluding the spouse. The owner should not have an adjusted net worth which is less than $250,000 not inclusive of the spouse, his or her personal residence and value of the applicant business to qualify for SBA 8a certification. 
On the other hand, the owner must have less than $4,000,000 in total assets, not including the spouse to fulfill one of the very important requirements.  The firm should not have control issues and the owner should have 100% control over both the strategic and day-to-day operations of the firm, and the SBA will conduct many tests to verify the same including:-

1. Review of the firms’ operating agreement or business

2. Leases

3. Customers & Sub-Contractors

4. Bank Signature Cards

5. Loan Agreements

6. Appropriateness of Owners technical & business backgrounds

7. How the equity of the firm is held & controlled.

The author is a business blogger who works for 8a certification ADVANCE 8A that offers the best quality 8a certification in the USA. The company has its Business office located at 4 Interstate Access Road, Suite C Wilder, KY 41076 and can be contacted by Phone +1 703-688-3546, Interested people can visit the company website http://www.8acertification.net for more information.
Location: 4 Interstate Access Rd c, Highland Heights, KY 41076, USA

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