The SBA 8a Mentor

Here are some of our most frequently asked questions:

Who is eligible to apply for SBA 8(a) status?
Women, minority and service disabled veteran small business owners who meet specific business and  financial criteria. Do you qualify?  > Take the SBA assessment to get answers.

Want more information?  Visit > www.The8amentor.com

Can anyone guarantee my acceptance in the SBA 8(a) program?
No company can guarantee your acceptance. Only the SBA makes that determination.  Be wary of  companies that “claim” to guarantee your acceptance if you use their services.

How do I apply?
The application process contains several parts: pre-registration in four databases, completion of an online application (including a social / economic narrative), printing /sending hard copy for review, submission of additional paperwork upon request. > Check the SBA website

What documents are needed to complete the application?
Expect to provide three recent tax returns, business incorporation documents, bank signature cards and other similar requested documents and more.

The application is a step-by-step process completed over several sessions.  The application won’t  let you proceed until you complete the current form you are working on.

After you complete the online application, there is a checklist to print.  You provide a “wet signature” document stating that information you provide is true, that is notarized.  The completed application packet is sent to one of two SBA processing centers.  The checklist informs you of the correct place to send your packet.

How long is the application process?
The most important time saver is to have all of your reference documents in order.  Filling out the online form takes about 6 hours, but this does not include writing the social / economic disadvantage narrative.

Depending upon your writing ability it can take from 6+ hours to prepare.  (Because there is not a lot of guidance from the SBA in writing the narrative, many people just quit. )

Once your application has been printed and submitted to one of the two processing centers (Philadelphia or San Francisco) you will get notified (via email or postal service) of an initial packet screening.  At that time you will be instructed if your packet is complete  or if you have to provide additional information.   You need to quickly respond within 15 days to the notice with requested information.

Then the SBA reviewers have up to 90 days to review your packet and make a final decision.  You will receive final notification (via email  or postal service) of the decision.

Can I submit a paper application instead of online?
Yes, but we do not recommend it. Why? Because online applications are reviewed and approved within 90 days.  Paper applications are not reviewed for up to 4-6 months.  If you are uneasy about filling out an online form, get help.

When  I receive notification, can I immediately start bidding?
No. After you receive your SBA 8(a) acceptance letter, expect to wait up to one month before the local SBA office contacts you to come in for your initial interview.  The meeting will last about one hour. The local SBA 8(a) Business Development Specialist will review your information and give you general information about the program and upcoming local events.

Want more information?  Visit > www.The8amentor.com

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