I am a disabled new business owner living in VA. Does my disability classify me as a minority business owner?

Question

I am a white male with a permanent physical disability living in the state of Virginia. I started my own business only a short time ago. Someone suggested that my business may be classified as minority owned and as such may be eligible for special loans or grants. I have two questions. 1. Does my disability classify me as a minority business owner? 2. Where can I look/Whom can I contact for further information? Thanks

Answer 1

To qualify as a certified minority business owner under SBA, you need to fulfill the following eligibility requirements: http://www.sba.gov/8abd/indexprograms.html

"To qualify for the program, a small business must be owned and controlled by a socially and economically disadvantaged individual. Under the Small Business Act, certain presumed groups include African Americans, Hispanic Americans, Asian Pacific Americans, Native Americans, and Subcontinent Asian Americans. Other individuals can be admitted to the program if they show through a "preponderance of the evidence" that they are disadvantaged because of race, ethnicity, gender, physical handicap, or residence in an environment isolated from the mainstream of American society. In order to meet the economic disadvantage test, all individuals must have a net worth of less than $250,000, excluding the value of the business and personnel residence.

Successful applicants must also meet applicable size standards for small business concerns; be in business for at least two years; display reasonable success potential; and display good character. Although the two-year requirement may be waived, firms must continue to comply with various requirements while in the program."

Disability is covered as one of the conditions, so yes you can be considered as minority business owner. Note that they business must be ongoing for the last 2 years, so they don't give this classification to startups.

However, bear in mind that a classification mean primarily that you can be given priority when bidding government contracts (in reality though, that does not always happen) -- not necessarily priority in terms of loans and grants. As stated in the same page, the benefits of being classified as minority business owner are:

1. Participants can receive sole-source contracts, up to a ceiling of $3 million for goods and services and $5 million for manufacturing. While SBA helps 8(a) firms build their competitive and institutional know-how, the agency also encourages them to participate in competitive acquisitions.

2. Federal acquisition policies encourage Federal agencies to award a certain percentage of their contracts to SDBs. To speed up the award process, the SBA has signed Memorandums of Understanding (MOUs) with 25 Federal agencies allowing them to contract directly with certified 8(a) firms.

3. Recent changes permit 8(a) firms to form joint ventures and teams to bid on contracts. This enhances the ability of 8(a) firms to perform larger prime contracts and overcome the effects of contract bundling, the combining of two or more contracts together into one large contract.

You can apply to the 8(a) Program by contacting any SBA district office. For more information or questions, call the Division of Program Certification & Eligibility at [phone]

Answer 2

Start with searching "disability business owner benefits" and "minority business owner benefits", or "disabled minority business benefits"? They would be a couple that I would try.

If you have an Office of Vocational Rehabilitation (OVR) in you area, that would be another. Your Chamber of Commerce my have some information or point you in the right direction.

Best of Luck to YOU!

Answer 3

If you were disabled due to military service there may be special financing

Answer 4

go to the social services, disability website by google

Answer 5

"Minority Bussiness Owner" yeah we are not all treated equal. now I see why.