What are the Criteria to Apply for EDWOSB Certification?

Introduction: The Small Business Administration (SBA) is consisting of several contracting assistance programs in order to help small businesses. It wins a fair share of the federal government's dollars. One of these programs include EDWOSB or the Economically Disadvantaged Women Owned Small Business (EDWOSB). Let’s have discussion about the criteria to be met for EDWOSB certification.

In order to apply for the EDWOSB, the eligibility criteria for application are little stronger. Along with meeting all of the WOSB requirements, the women who is holding an EDWOSB must: 
  • The net worth should not exceed $750k each
  • Should not have more than a $350k adjusted with a gross income on an averaged over the last 3 years each 
  • Personal assets valuation should be within $6 million each. 

The WOSB or EDWOSB certification program under SBA, has just been launched through certify.sba.gov. To get certified with either of the certification program, your company also needs to have the sam.gov profile. Please be noted that, though you can apply now, yet, the SBA will not start issuing certifications post 15th October 2020 onwards. But there is some changes applicable after the newly launched program of EDWOSB. As follow –

As an update of 2020, there is a change in certification process. You yourself will no longer be able to self-certify as an EDWOSBcertification. Being a new applicant, you have to undergo certain process along with this you need to fill up the following information on your certify.sba.gov account:

  1. SAM.gov registration information
  2. Proof of U.S. Citizenship for the female owner(s)
  3. Other business-related documentation
  4. Joint venture agreements (if applicable)

Application process –

There are two ways one can apply – first you van apply on your own behalf on the online platform, or else you can take support from a third party to apply for certification. Now in case you choose to go with the third-party, be rest assured you must choose one of the four SBA-approved vendors, these are:-

  • El Paso Hispanic Chamber of Commerce 
  • National Women Business Owners Corporation
  • U.S. Women’s Chamber of Commerce
  • Women’s Business Enterprise National Council

In most of the cases, business owners would like go with the online system because it is free of cost and relatively user friendly.

Conclusion: If your are having an 8(a) certification for ownership by economically-disadvantaged individuals, and you can also apply for an EDWOSB certification.

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