Asked by: Serafi Gatenabusiness and finance government business
What is a 8a contractor?
Last Updated: 3rd April, 2020
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Likewise, people ask, what is an 8a contractor?
accomplish this is the SBA's 8(a) contractor program. Named for the section of the Small Business Act, this program is designed to help small, disadvantaged businesses complete for federal contracts. Many types of contracting are available in the program, supply, various service as well as construction.
One may also ask, how do you qualify for 8a? To qualify for the 8(a) program, follow this eligibility checklist:
- Be a small business.
- Not already have participated in the 8(a) program.
- Be at least 51 percent owned and controlled by U.S. citizens who are economically and socially disadvantaged.
- Be owned by someone whose personal net worth is $250,000 or less.
Just so, what does it mean to be 8a certified?
SBA (8a) is an ownership/diversity certification sponsored by the Small Business Association (SBA) of the United States government. This certification is intended for organizations that are owned and controlled at least 51% by socially and economically disadvantaged individuals.
How long can you be an 8a company?
These individuals may be of any sex or heritage. The 8a program has a nine-year life span which is divided into two phases: an initial four-year developmental stage and a final five-year transition stage.