Small Disadvantaged Business
A small business must be at least 51% owned and controlled by a socially and economically disadvantaged individual or individuals. African Americans, Hispanic Americans, Asian Pacific Americans, Subcontinent Asian Americans, and Native Americans are presumed to qualify. Other individuals can qualify if they show a preponderance of evidence that they are disadvantaged. All individuals must have a net worth of less than $750,000 excluding the equity of the business and primary residence. Successful applicants must also meet applicable size standards for small businesses in their industry. Self Certification.
Small Business Concern
A Business concern eligible for assistance from SBA as a small business is one that is organized for profit, with a place of business located in the United States. It must operate primarily within the Unites States or make a significant contribution to the U.S. economy through payment of taxes or use of American products, materials or labor. Together with its affiliates, it must meet the numerical size standards as defined in the Small Business Size Regulations, 13 CFR 121.
Veteran Owned Small Business
A small business concern where: (A) Not less than 51% of which is owned by one or more veterans (as defined at 38 U.S.C 101 (2)) or, in the case of any publicly owned business, not less than 51% of the stock of which is owned by one or more veterans; and (B) The management and daily business operations of which are controlled by one or more veterans. According to 38 U.S.C. 101(2), “veteran” is defined as “a person who served in the active military, naval, or air service, and who was discharged or released therefrom under conditions other than dishonorable.”
Service Disabled Veteran Owned Small Business
A small business concern where: (a) Not less than 51% of which is owned by one or more service-disabled veterans or, in the case of any publicly owned business, not less than 51% of the stock of which is owned by one or more service-disabled veterans; and (b) The management and daily business operations of which are controlled by one or more service-disabled veterans or, in the case of a veteran with permanent and severe disability, the spouse or permanent caregiver of such veteran. A service-disabled veteran means a veteran, as defined in 38 U.S.C. 101(2), with a disability that is service-connected, as defined in 38 U.S.C. 101(16). From U.S.C. 101(16), the phrase service connected (in terms of service disabled)means: “with respect to disability or death, that such disability was incurred or aggravated, or that the death resulted from a disability incurred or aggravated, in line of duty in the active military, naval, or air service. Government issued documentation required.
A business that meets the following criteria: (a) is at least51% owned by one or more women; or, in the case of any publicly owned business, at least 51% of the stock of which is owned by one or more women; and (b) Whose management and daily business operations are controlled by one or more women.
A business for-profit enterprise, regardless of size, physically located in the United States or its trusted territories, which is at least 51% owned, operated and controlled by minority group members. “Minority group members” are United States citizens who are Asian, Black, Hispanic and Native American.
Indian Tribe/Alaskan Native Corporation
Refers to any business owner who is a member of any Indian tribe, band, group pueblo, or community which is recognized by the Federal Government as eligible for services from the Bureau of Indian Affairs (BIA) in accordance with 25 U.S.C. 1452 © and any “Native” as defined in the Alaska Native Claims Settlement Act (43 U.S.C. 1601). The same person must have 51% or more ownership in the firm, as well as daily control of the firm’s management decisions. Government issued documentation required.
Historically Black College/University of Minority Institution
Institutions determined by the Secretary of Education to meet the requirements of 34 CFR Section 608.2. The term also means nay nonprofit research institution that was an integral part of such a college or university before November 14, 1986. Minority institutions meeting the requirements of Section 1046(3) of the Higher Education Act of 1965 (20 U.S.C. 113d-5(3)). The term also includes Hispanic-servicing institutions as defined in Section 316(b)(1) of such Act (20 U.S.C. 1059C(b)(1)).
(SBA-Certified and verified in CCR - requires certificate)
Historically Underutilized Business Zone. To qualify as a HUBZone small business concern, the firm must be: (a) Small; (b) Located in a “historically underutilized business zone” (HUBZone); (c) Owned and controlled by one or more U.S. Citizens; and, (d) One that at least 35% of its employees reside in a HUBZone. Government issued documentation required.
If you're interested in partnering with us as a diverse supplier, please register through the PowerAdvocate Portal using the online registration guide. LG&E and KU require all diverse businesses to provide certification from either a third-party certifying agency or a self-certification form available through the PowerAdvocate registration process.