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| Clients Testimonials |
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Melina Gio
President AKS
Shipping
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| "Other 8a services said our application did not fit their structure, sba8a.net took us on as a client and helped to resolve our issues." |
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Dave Elma
President Elma
Construction
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| "Sba8a.net guided us from the date of incorporation until we had a successful application." |
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| An 8(a) applicant must prove that they are “economically disadvantaged” as part of the certification process. As part of this the SBA requires that form 413 be completed which is an applicant’s personal financial statement. |
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| The three areas that the SBA will evaluate are the following: |
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1. Effective personal "adjusted gross income"
2. Personal "adjusted net-worth".
3. Personal assets |
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| 1. Adjusted gross income (AGI) – The applicant must have less than $250,000 average annual income for the past 2 years. If the applicant fails this test there maybe arguments that Sterling Venture can make to the SBA to lower the applicant’s AGI |
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| 2. Adjusted net-worth – The applicant’s net worth (assets minus liabilities) excluding the value of their personal residence, value of the business, and the value of retirement accounts must be less than $250,000. With the primary residence, value of the business and retirement accounts this amount cannot exceed $1,000,000. |
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| 3. Personal Assets – the total of all assets including primary residence, value of the business and retirement accounts must not exceed $6,000,000. |
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| Fee $500 |
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