Red Rock Real Estate / Law Real Estate Group
4001 S. 700 East. Ste 500
Salt Lake City, UT
84107
Office: 801-631-5478
Email: fred@lawrealestategroup.com
Depending on the nature of the business, there are several types of certifications available today. Common certifications include: minority business enterprise (MBE); women business enterprise (WBE); disadvantaged business enterprise (DBE); SBA 8(a); HUBzone; veteran-owned small business (VOSB); service disabled veteran-owned small business (SDVOSB); women-owned small business (WOSB); business enterprises-owned by people with disabilities (BEPD) and “small business.”
While each certification has different criteria, there are similar criteria for many. For instance, all companies must be at least 51-percent owned by a person or a group claiming the certification status.1 The 51-percent owner must have unfettered control of the company. For federal and DBE certifications, the company must be a “small business” as determined by the Small Business Administration (SBA). A federal SDVOSB requires the business be “small,” at least 51 percent owned and operated by one or more service-disabled veterans whose management and daily business operations are controlled by service-disabled veterans, and the disability be service connected. While a HUBzoned firm must also be “small,” the criteria includes the location of the business and home addresses of the firm’s employees. State corporate laws and licensing laws are also criteria used to review applications for certification. There are special criteria that must be met depending on the certification type. For instance, while a 51- percent owner must have a personal net worth under $750,000 for DBE certification, the SBA 8(a) certification requires that the 51-percent owner have a personal net worth under $250,000.
Federal, state and local government agencies also have different gross business receipts criteria for determining small business certification eligibility.More information for your convenience:
For more information on diversity designations and certifications, visit the following websites:
NOTES: Links to third-party sites are provided for your convenience. Such sites are not within our control and may not follow the same privacy, security, or accessibility standards as ours. Therefore, NRBA is not responsible for the security, content or availability of third-party sites, their partners, or advertisers.
Fred received his real estate license in 1985 and obtained the coveted CRS designation in a record 2 years and became an Associate Broker in 3 years. He has been twice a board of Director at the Salt Lake Board of Realtors & also an Utah Association Board of Director. He has been on The Wasatch Front Board of Directors, Community Service committee, Professional Standards committee and Habitat for Humanity committee. As the Director of REO for Century 21 Everest, Fred oversee 15 offices, and 60 REO Agents as part of the Fred Law Everest REO Team. We pride ourself on performance and accountability. We are here to serve you.
Fred is very service oriented for his clients and believes that when he strives to meet his clients' needs, his success will follow.
Fred's References:
Hudson Home Loans
Caliber
Fay Servicing
Fannie Mae
Freddie Mac
Chase
Aurora
Wells Fargo
Insource
DSI
National City
EMC
Ocwen
GMAC
Green River Capital
VRM
Matt Martin
Indymac
SPS Servicing