WOSB 8(M)
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WOSB 8(M)

The WOSB repository is finally up and accepting documentation. I am seeing more and more WOSB requirements mentioned by the primes. But there is a problem. Most WOSB's do not have sufficient bonding capacity to qualify for the big jobs and many primes simply will not work with a small business that lacks bonding capacity. The SBA as come up with a $250,000 bonding program for anyone with a qualifying credit score.
 
It just goes to show we need to be in touch with the SBA.

1 Comment to WOSB 8(M):

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Dean Ledbetter on Tuesday, April 05, 2011 4:33 PM
MAJOR 8A PROGRAM CHANGES WHICH OFFERS SMALL BUSINESSES A BETTER OPPORTUNITY TO HAVE ACCESS TO CONTRACTS ON A SOLE SOURCE BASIS The following is a Summary of the Changes to the Regulations governing the 8A Certification Program Contract Thresholds A Sole Source Contract value has increased from $3.5 Million to $4 Million (and from 5.5 Million to 6.5 Million for Manufacturing) Definitional Changes *An 8a participant may change its primary NAIC code if it can demonstrate that the majority of its revenues during a two year period has evolved from its primary NAIC code to another *A bonified office location as your primary address will be determined by such evidence as bills, advertisements, correspondence, lease agreements, land records, state filings and license. Economical Disadvantaged . *Individual Retirement Accounts and other official retirement accounts will be exempt from the calculation of Net Worth. Family Member Eligibility *SBA will no longer automatically disqualify an applicant because an immediate family member owns an 8A Company. SBA will waive the prohibition where there are no or negligible connections between the two firms, either in the form of Ownership, Control, or Contractual relations, and where the Applicant can prove he or she has sufficient Management and Technical experience to operate the business. Military Active Duty Owners 8A Companies owned by individuals called up on active duty may have their 8A Company program tenure temporary suspended during the period of Call-Up or designate another disadvantaged individual to run the business. Salary Requirements The adjusted gross income to enter the program has changed from $200,000 dollars to $250,000. Joint Ventures *Currently two firms in a joint venture relationship are limited to three contracts over a two year period. Under the new rule additional contract opportunities may be pursued by the 8A partner if certain conditions are met *The percentage of work required to be performed by the 8A partner in a joint venture has been decreased from 51% to 40%.
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