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Is Your Company Ready to Apply For SBA 8a?
This trend took a sharp curve upward since there is a push for more federal contracts for small business owners.
The trend is the problem that even if a company meets the eligibility requirements of the SBA 8a program, they may not be ready to apply.
What do I mean by not ready? Many companies may meet the SBA 8a criteria, but if they were to apply now they would be turned down solely based upon their inadequate social/ economic disadvantage narrative.
That is the critical part of the application that is often subjective, unless you know what to put in the narrative.
Why is this so? Because by the answers that they provide, they indicate to the reviewers that they are just not ready to apply.
They do not show enough business development evidence that they are truly trying to grow the business.
There are five main categories that are just not addressed in depth in their narratives.
The are many categories, but some often missed are: credit, marketing, sales, partnering and licenses.
Is your company ready to apply? Do you meet the criteria in these and other categories? Would it make sense to get some questions answered before you commit your time, energy and money? We recommend that you get some professional advice from a company that knows and prepares narratives on a regular and ongoing basis.
Before you invest your time, energy and money in the application process, get some advice on your company readiness.
By learning the truth now, Its a WIN-WIN for you if you are ready or not.
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