Assisting All Types of Businesses with their Minority Certification
Many Organizations award jobs to businesses that have been certified as a minority owned business. Private Corporations, federal and state agencies, and municipalities, either want or are required to do business with minority owned companies. For example, the Department of Transportation requires that recipients of its funding, award a percentage of contracts to minority-owned businesses. Also, many large companies have goals for buying from minority-owned suppliers. A minority owned business can be women owned, veteran owned, or other historically underutilized businesses. A minority businesses must be at least 51% minority-owned operated and controlled. Minority eligibility is established via a combination of application screenings, interviews and site visits. Ownership, in the case of a publicly-owned business, means that at least 51% of the stock is owned by one or more minority group members. Many companies unaware of certification policies disqualify themselves, sometimes permanently from certification by improper funding Capital expenditures, and/or when acquiring assets. If you're not certified, you can miss out on many business opportunities ranging from marketing, legal services, and other opportunities to reduced-competition access to a public contract. We understand that small businesses often don't have time or knowledge on becoming a minority certified business. LACF can help you get certified faster and with fewer problems.
LACF minority certification services include:
- An in-depth eligibility analysis performed by our office
- Review of required documents and assistance with procuring needed documents
- Application submittal and tracking
- Additional services as provided based on requirements of each specific application/client.
Some benefits of becoming a minority certified business include:
- Access to more business
- Access to specialized loans
- Access to educational seminars, training and technical assistance
- Introduction to local, state, federal corporations or businesses
Minority Owned Business Certifications
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