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Since the U.S. SBA 8a is one of the most beneficial programs assigned for small business owners, it is necessary for every small business owners to understand the eligibility criteria for the application. The 8a program is basically designed to offer critical business development assistance to the companies owned or operated by individuals, who are economically and socially disadvantaged. As the program opens up huge amount of opportunity for small businesses, the application eligibility criteria are quite high and rigid. If you are a woman or a minority or a service unable veteran owning a small business, then you must consider the following points before investing your time and energy into the SBA 8a application process. SBA 8a Business Development Program Eligibility Criteria 1. The first and most important criterion for the 8a application is that the applicant company must be owned or operated by socially and or economically disadvantaged individuals. Only member of social disadvantage groups are allowed to apply for the SBA 8a program. Economic disadvantage is another very important eligibility requirement. This standard is defined as a personal net income of more than $250,000, which excludes the equity in a business or a personal residence. 2. Only U.S. citizens are eligible for applying for an 8a status. Since, the federal government “sets aside” more than million contract dollars for the small businesses qualifying for the SBA 8a certification, it is a must for the applicant to be a citizen of United States. 3. Applicant firms must currently be in business. The person applying for the certification status must be the majority owner of the business and must have full-time involvement. 4. In order to apply for the SBA 8a Certification, applicants must be in business for more than two years. In some cases exceptions are granted by the SBA. In such cases a waiver must generate revenues that meet the waiver requirements. However, earning revenue does not mean making high profit margins, but in order to be granted, your company must show invoices and income from the concerned area. 5. Since, not all the industry categories have high demand for government contracts as resources, prospective 8a certification candidates must consider the buying requirements of federal agencies in respect to the products and services they offer. 6. Being registered in both Dun & Bradstreet and CCR Registration is a must for businesses. Before applying for the SBA 8a status candidates must get listed in both the registries. 7. Having a clear personal and business legal record is essential for prospective 8a certification candidates. No prior parole, convictions, probation, imprisonment or other similar legal offences are taken into consideration. If you conform to all these mentioned criteria, you are considered as an eligible candidate for the SBA 8a Business Development program. So, if you meet all the requirements and wish to continue with the process, your next step would be to complete the SBA form, submit all relevant documents and wait for the SBA to assess your eligibility for the SBA 8a certification. Author Bio::
Steven Brown is a professional Internet marketer. To get the SBA Eligibility, SBA 8a Eligibility Small Business Administration or CCR Registration of the SBA 8a Certification Visit 8acertification.net
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