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.
REGIONAL REALTY is recognized as a leader throughout multiple Kentucky real estate market areas. We have a proven ability to perform.
With over 20 years of hands-on experience in all aspects of the REO lifecycle, my team has sold over 2000 REO homes throughout that period. Over the years, we've been privileged to have partnered with dozens of lending institutions, asset management companies and equity funds, including Freddie Mac, HUD, Wells Fargo, Veterans Administration, Kentucky Housing Corporation, and many more.
Utilizing our long-standing memberships in both the Northern Kentucky Association of Realtors and the Lexington-Bluegrass Association of Realtors, we are truly a REGIONAL company -- providing primary coverage availability throughout the north/central areas of the state.
As a member of the National REO Brokers Association since 2008, I currently serve as the Kentucky Master Broker (as well as previously in 2014/2015). NRBA, and the relationships we’ve forged with other Kentucky members, provide us with the opportunity to expand our working footprint seamlessly across other, more distant, areas of the state, and we offer that to our Clients as a value-add!
We have the financial resources to handle large expenses for multiple properties and are up to date on the laws, rules and codes that are associated with REO.Our full-time staff is cross-trained with one another in all aspects of the REO disposition process and is a part of our Disaster Recovery program assuring our clients that they will never experience down-time or a failure on our part to be able to service their Assets at all times.
As the Principal Broker / Owner of the Company, I will be your primary contact person designated to answer any questions or concerns you may have regarding our Company and to assist you throughout the entire process. I can be reached by cell phone at (859) 620-7653. If you have an EMERGENCY situation, text HELP to 859-780-5527