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PlanificarComenzarOperarCrecerM/WBE, SBE, VOB y otras certificacionesSocially and Economically Disadvantaged Business (SEBD
PlanificarComenzarOperarCrecerM/WBE, SBE, VOB y otras certificacionesSocially and Economically Disadvantaged Business (SEBD
Eligibility Criteria
To qualify, your business must be officially registered and allowed to operate in New Jersey. It must be at least 51% owned, managed, and controlled by one or more people who are socially and economically disadvantaged. If the business involves work that doesn’t require a license, you’ll need to show that the owner has the skills to do the job. Also, each qualifying owner must have a personal net worth of $1.32 million or less, not counting their home or the value of the business.
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Application Needs
- 12-digit New Jersey Tax ID
- Employer Identification Number (EIN) or Social Security Number (SSN)
- Business name or trade name
- Names and addresses of the owner(s), partners, or officers
- Names and addresses of all shareholders and their ownership percentage (for corporations)
- Number of shares issued and outstanding (for corporations)
- Articles of incorporation, bylaws, partnership agreements, or joint venture agreements (as applicable)
- Copy of the Certificate of Formation
- Organizational chart
- Identification for all owners (birth certificate, driver’s license, passport, or other acceptable form of ID)
- Signed affidavit stating the business is socially and economically disadvantaged (example affidavit)
- Completed personal net worth statement for each socially and economically disadvantaged owner
The following information may also be requested:
- Names, addresses, and capital contributions for all investors
- Business bonding history and activity
- Any connections the business or its owners have with other businesses
- List of the business’s major property holdings
- List of banks the business works with
- List of all certifications awarded to the business
- List of any certifications denied to the business
- Copies of leases, rental agreements, deeds, or mortgage documents (including if home-based)
- Proof that the owner(s) have lived long-term in an isolated area or one with high unemployment
- Information showing the business is located in:
- An area with a poverty rate of 20% or more, or
- An area where the median family income is 80% or less of the higher of the statewide median or the local median income
- Operational agreement showing how the business is run