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.
REVIEW FROM RECENT BUYER.
I've always wanted to be an homeowner, in fact this was the last thing on my list to accomplish in life. It took longer than expected, as I was trying to get all of my ducks in a row. It wasn't until after we brought some acreage of land that we began looking deeper into the home buying process. My boyfriend and I decided that we would make our land suitable for living in an RV full time. After about 2 years living in our RV and preparing the land for building; we'd noticed this cute little bungalow was being renovated. With no intentions on buying the home and every intention on building on our land, I politely asked one of the contractors when the property will be for rent? I found out that it was going up for sale. That is when I decided that I really wanted that home. Being that it was adjacent to our property, I HAD to have it. I researched the owner of the house and found that it was Fannie Mae. From the moment of me speaking to a representative from Fannie Mae to the moment we bought the house, the process with FM was very smooth & easy. Janet Petrozelle/Oak Leaf Properties of NC was the realtor that represented Fannie Mae and she was helpful and informative through and through. Our realtor Johnny Petrozelle/Oak Leaf Properties of NC was super supportive and helpful in our journey as well. The portion of the process that we like the best is the Homepath website. It allowed us to see the different stages of our home once it was under contract. We were always in the know just from the website alone. The Homepath website also had first time home buyers training courses that were truly helpful for me. The house itself was fully renovated from top to bottom (I know, I saw the progress month over month). We are happy that we didn't have to buy a home that we needed to rennovate or repair. We were happy with the price and we're thankful to now have a cute little bungalow to call home! -- Joy Jackson BA/MBA/LSSGB 1255 W Wall St Wadesboro NC
Services Offered
Complete services offered for management of listings including occupancy checks, assistance with relocation, rekey, trashout, complete rehab, weekly inspections. BPO and inspection services.
Coverage Area
Coverage area in Central North Carolina includes the following counties:
Alamance
Anson
Cabarrus
Davidson
Davie
Forsyth
Guilford
Iredell
Mecklenburg
Montgomery
Moore
Randolph
Richmond
Rockingham
Rowan
Stanly
Stokes
Surry
Union
Yadkin