Minority-owned Businesses with MBE Certifications get Special Funding and Benefits in 2024 Government programs are available for minority-owned businesses with...
November 27, 2023Government programs are available for minority-owned businesses with an MBE certification. Obtain an MBE certification and benefit from business loans, investment capital, disaster assistance, surety bonds, special grants, commercial and federal contracts, business networks, and client databases by obtaining one of the following:
Over 4.7 million small businesses are owned and operated by women, minorities, and veterans—and are to thank for creating 4.7 million jobs within the last 10 years. Unfortunately, such small businesses face a layer of vulnerability obscure to their majority counterparts. Minority-owned businesses are much less likely to get contracts, loans, and on average, get half of what they otherwise would from lenders and investors. To stimulate the economy and help disadvantaged small businesses compete, the government is offering special programs to those that get certified. The programs are not designed to be charity, nor do they give minority-owned businesses special treatment; it is an attempt to level out the playing field by increasing visibility and the number of potential opportunities.
To get a minority-owned business certification, you and your company or corporation must meet specific criteria and qualifications. First, your business must be at least 51% owned, managed, and operated by minority group members of U.S. citizenry and have good moral character. The company, corporation, partnership, sole proprietorship, or franchise must be for-profit and located in the U.S. or its trust territories.
To register as a minority-owned business and obtain an MBE certification, you can start the process today by filling our online form or by calling (800) 603-3900. Applying for an MBE certification is a legal process; our in-house lawyers can help you meet the certification criteria and qualify for the special funding and benefits it provides. Please note that a minority-owned business MBE certification includes legal documents such as the articles of incorporation or certificate of organization, stock certificates, company minutes, operating agreements, and corporate bylaws, among other records. Our law firm helps minority-owned businesses incorporate, litigate, and satisfy government guidelines, giving you a fair chance to grow into a profitable and sustainable entity. Utilize our arsenal of legal and business abilities to your full advantage. Call us for a free consultation now!
Company records book and seal are important in obtaining your MBE certification. If you’ve lost your corporate kit, we can help you replace it when processing your application.
The MBE certification benefits minority-owned entities by enabling access to many business opportunities and connections, such as:
As an MBE-certified minority-owned business, you don’t receive any special federal tax breaks or incentives. However, you can receive tax benefits for working with other MBE’s and those that operate in low-income areas. You can also get tax relief from establishing your business in specific zones or locations. Also, entities of certain types may be eligible for tax credits and programs to promote economic development in disadvantaged markets and industries.
The MBE certification checklist below will give you a general guideline on the process of this effort:
You can find several potential loan options for minority-owned businesses that obtain the MBE certification, including:
There are grant opportunities for minority-owned small businesses that you can find online after obtaining your MBE certification, among those are:
The requirements for an MBE certification include:
At Spiegel & Utrera, P.A., we have been committed for decades to providing minority-owned businesses affordable business formation with complete records book and seal, experienced legal and business counsel, and written agreements. We’re open Monday to Friday from 8:30 am to 5:30 pm. Feel free to give us a call at (800) 603-3900 with any business or legal questions; we’re happy to help your MBE-certified business get to the next level.
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