Want to Get HubZone Certification? Here’s What You Must Remember

Considering the manifold benefits of hubzone certification, you must have already decided to undertake the process of getting certified. But, are you sure you’ll get the  Certificate with whatever you have? Well, for that here is some useful information that you  must take into account  before starting with the process.



Are You Located in a HubZone?

Location is the prime criteria of every HubZone business. The first thing you must concern over is the location of your organization. It should essentially be situated within the range of HubZone. For that matter you can visit SBA website to find their area specifications and also if you fall away or within the federal range. In case your firm has multiple locations, the Federal Government will consider the primary location on the basis of most employee engagement. You must also give your company name and location details to the bill in order to be eligible for the successful hubzone certification. What you must not forget is that 40% of your employees must reside in the HubZone area when you apply for the application. Sometimes, companies do not have a team strength of more than few members.  In that case, you must have at least one employee along with you (or the owner) to enjoy hubzone certification.   

HubZone Certification Gets You Financial Aid

As you know getting loans or any kind of financial aid is extremely essential for your business, hubzone certification helps you in availing that.   The unique federal support is the most beneficial part of your business process. The rules are stringent and pretty lengthy to go through. However, you can get over the tasks by following expert guidance online. It is advisable to get enrolled for the Hub Zone tutorials. Don't worry about the charges, it is free; the US federal Government does not charge a single penny for the tutorial purpose. But if you are opting for the guidance from individual professionals, you might have to spend some fortune. The HubZone certification process primarily comprises three steps each with specific significance. In other words, you have to follow and meet the requirements of each step.

Who are the  Preferred Candidates?

The very first step is to prove your eligibility for hubzone certification by being a woman or socially and/or economically disabled business veteran of  SDVOSB . Apart from that the majority owner should also be involved in daily operations of the business, that is, you must have a full time involvement in the business process. However, you have to follow the standard set by hubzone certification authority while proving your economical disadvantages. The majority shareholder of the business process must have income of over $250,000. Here the personal residence and company ownership value is excluded from this amount. Finally you have to prove your business potential. You must be dealing with the product or services that are worth selling to the federal agencies.

 

Final Thoughts

After submitting the initial application, hubzone certification authority will enquire about how the firm is owned, its location, its credit history and various other supportive documentations. So, you must make sure that you meet these determinations prior to submitting the application. One time rejection of the application form will make your business ineligible to apply for the next six months. Considering the fact, you should be well aware of the eligibility criteria and contact the professional guides if needed. Various hubzone grants agencies are available online to help your way. You can also hire the individuals to fill up the form on your behalf and help you collect all the needed legal documents the easiest way.

 

Location: 10050 Norbotten Dr, Florence, KY 41042, USA

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