Frequently Asked Questions- SBA 8a Program

When you are applying for 8a certification there are a lot of questions that arise in the minds of people. We have prepared a list of questions that are frequently asked and other information related to it. These questions will help in making your application easy as they will guide you to determine your eligibility criteria and also help gather the required documents.

What is the biggest hurdle that we have to cross to apply for 8a certification?

Well, this is a frequently asked and the answer to it is that your business should have functioned for a time period of two years. Unless and until, it has that amount of maturity you cannot apply for it. No doubt, there are exceptions to this  as sometimes a business is allowed before two years to apply, after it has completed several other formalities that include tax return, annual income and experience of owner.
Another major hurdle towards 8a certification is that the owner must be able to give 40 hours per week to the work. The business must be a full time work.
Secondly, the ownership of primary applicant in the business must be that of 51% or more to get an 8a certification.

How are disadvantaged groups presumed?

This is an important question as we always read in several articles that 8a certification is for disadvantaged business owners. In order to prove the government that you belong to the disadvantaged group you will have to present a narrative which could be 6 pages long. The business that may have meted out to the applicants in America due to reason like heritage, ancestor origin gender and so on and so for the, need to be explained.

 How much time is consumed in entire process?

It may take around a month to put all the details of application together and SBA takes 3 months to send approval.

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