If you’ve been interested in applying to the SBA’s 8(a) Business Development Program, but have a close family member who has already participated in the 8(a) Program, SBA’s message–until now–has been, for the most part, “thanks, but no thanks.”
But in a new rule taking effect on November 16, 2020, SBA has dialed back on the restrictions applicable to people who want to participate in the 8(a) Program, but who have immediate family members who have previously received 8(a) benefits.
You put your heart into submitting your 8(a) Business Development Program application, but you still got denied. All is not lost! Join me as I discuss how to request reconsideration or appeal 8(a) denials.
If you have questions or would like assistance drafting a request for reconsideration or appeal, you can reach me here.
SBA’s Office of Inspector General (OIG) recently inspected SBA’s 2019-2020 corrective actions to determine whether they had effectively reduced the risks previously found in SBA’s 8(a) Program eligibility determinations. Apparently, the OIG liked what it saw.
When it comes to the 8(a) program, you might want to quit your day job.
The 8(a) Business Development Program, similar to other SBA socioeconomic programs such as the service-disabled veteran-owned small business program, requires the disadvantaged individual owner to work full-time at the business during normal business hours of similar firms. If an owner has a second job outside the main company, that can create problems, as it did in a recent OHA decision.
The SBA’s 8(a) program provides a number of opportunities for small businesses owned by socially and economically disadvantaged individuals. In this video, I discuss the economic disadvantage eligibility requirement, highlighting the regulatory changes imposed last Wednesday:
Want to know more about how to apply for the 8(a) program? Check out our 8(a) Handbook here or reach out to us here.
As of July 15, the initial caps on net worth, adjusted gross income, and fair market value of assets for the 8(a) program have gone up. The dollar amounts for initial 8(a) economic disadvantage eligibility have increased quite a bit, making more people economically eligible. Read on for the details on this change.
One of the trickiest requirements for admission into the SBA’s 8(a) program is demonstrating social disadvantage. While some groups are presumed socially disadvantaged (as discussed here), social disadvantage can also be demonstrated based on other characteristics not specifically included in the SBA’s regulations. For those characteristics, applicants must submit a “social disadvantage narrative.”
In this video, I provide you the tricks of the trade you’ll need to write a successful narrative:
For assistance drafting your social disadvantage narrative, reach out to us here!