Articles Tagged with SmallBusinessAssociationWomen’sLoans

Starting October 15, in a stepped-up effort to ensure that all applicants are eligible, the U.S. Small Business Administration will no longer allow women-owned small businesses or economically disadvantaged women-owned small businesses to self-certify that they meet the requirements for the Procurement Program for Women-Owned Small Business Concerns.

That program enables these categories of businesses to compete for set-aside or sole source contracts with the goal of awarding at least 5% of contracts to these businesses, a goal that the government surpassed in 2019 with $26 billion in total contracts awarded. Women-owned small businesses are defined as those at least 51% owned by one or more women who are U.S. citizens, while the separate economically disadvantaged category includes those with a net worth of less than $750,000, not including primary home equity and interest in the business.