WHAT: EDWOSB/8m/WOSB Certification Program
DESCRIPTION: The SBA released their Final Rule on the WOSB program to include a new certification called edWOSB. E.D.=economically disadvantaged. This new program enhances the previous WOSB program which was very limited in supporting women business owners.
FEATURES & BENEFITS OF ED/WOSB CERTIFICATION:
- Win set-aside federal contracts worth up to $4 million & $6.5 million for manufacturing (federal goal 5%)
- Win subcontracting projects with large prime contractors (subcontracting mandate 5%)
- Equal the playing field with other programs such as HUBZone, SDVOSB & 8a
- Future Mentor Protégé program for ED/WOSB
- New easier processes and guidelines for contracting officers to award set-aside contracts to WOSB’s
- No term limit in the program. For as long as you are a small business, you will remain in the program
- No long approval process. The minute you submit your documents, you're instantly certified
- No 2 year wait period. You can start a new woman owned business today and get certified the next day
- Approved 83 Industries: Qualification by NAICS codes
- Rule of 2 for WOSB on 45 industries
- No Rule of 2 for edWOSB on 38 industries
- Limited competition, only 79,000 woman businesses are registered in SAM/CCR, few have obtained ED/WOSB certification
- Self Certify (do-it-yourself - see kit below)
- 3RD Party Certification (Cost $400 to $600)
- Use your current 8a BD certification (not clearly defined by SBA at this time)
- Use DOT’s DBE certification (not clearly defined by SBA at this time)
WHEN: Program effective since February 2011
HOW: There are multiple ways to get certify for this new WOSB/edWOSB certification:
SELF CERTIFICATION PROCESS: Self certification is the way to go but there are a lot of documentation and paperwork to sort through. There are qualification guidelines which must be met and forms to fill. The following list is a brief overview and not a complete list of the certification process.
1) Determine qualification into the program using SBA Final Rule guidelines
2) Meet woman ownership requirement of 51%+
3) Meet woman owner’s financial threshold
a. Less than $6 million gross asset
b. Less than $750,000 net worth
c. Less than $350,000 annual salary/income
4) Review 83 NAICS industries and meet size standard requirements
5) Choose WOSB or edWOSB program and meet qualification requirements accordingly
6) Prepare documentation:
a. Corporate profile: business type, tax returns, financial statements, etc.
b. Owner’s profile: personal tax returns, financial statements, etc.
c. Management profile: list of officers, employees, etc.
d. Fill out SBA form 413
e. Fill out IRS form 4506-T
f. Fill out Appendix B of SBA’s guidebook for WOSB certification
g. Fill out Appendix C of SBA’s guidebook for edWOSB certification
7) Appropriately register in SAM.gov or update CCR registration into SAM.gov
8) Complete or update ORCA database (now with SAM.gov)
9) Complete or update SBA’s DSBS database (now with SAM.gov)
10) Sign all documentations and provide sworn affidavit with notary signature
11) Scan your document by separate sections
12) Upload documentation into the SBA GLS repository database
13) Keep your copies for backup in case of protest or eligibility examination
Get certified early to beat out your competitors. Save money by doing it yourself.
Click on this link to get started on your certification.
Contact us if you have any questions.
404-955-8080 office
www.EDWOSBCertification.com
NOTE: If you are NOT a woman business owner, please forward this important information to your women colleagues.
