What is the MBE Certification?
The National Minority Supplier Development Council is the prime certifying body for small businesses that wish to seek a Minority Business Enterprise (MBE) certification. They are endorsed by the SBA and provide a direct link between corporate America and minority-owned businesses. The minority business enterprise certification was created to bring more opportunities for minority businesses of all kinds.
What Are the Requirements for an MBE Certification?
The application process is lengthy, but the rewards can be great. Prerequisites include a site visit which does not preclude a home office.
Some of the requirements include:
- The History of the Business
- Certificate of Incorporation
- Articles of Incorporation
- Stock Certificates and Stock Ledger
- Minutes to Board of Director’s meetings as well as Shareholder’s meetings
- Bylaws (executed and attested) and Amendments (if applicable)
- All agreement(s) pertaining to ownership, operation, and control of the business
- Business cards that list appropriate corporate titles, copies of resumes, copy of driver’s licenses and proof of US Citizenship (Birth certificates or U.S. Passports only) for all Principals
- Corporate Bank Resolution Agreement(s) to include Bank Signature Card(s)
- Business Lease Agreement(s) (and Security Deeds if home-based)
- Proof of general liability insurance and in some cases bonding
- Copies of the firm’s cancelled checks
What Information is Required For the MBE Application?
Financial information is critical in validating a company’s business legitimacy and ownership and is kept confidential. Depending on your business structure, you must provide:
- If a Corporation: Income Statement, Balance Sheet, and the Corporation’s income tax return (1120, 11205) including all schedules for one year preceding the year of application
- If a Sole Proprietorship: Income Statement, Balance Sheet, and the Proprietor’s IRS tax form (1040, schedule C)
- If a Partnership: Income Statement, Balance Sheet, and the Partnership’s income tax return (1065)
- If a Limited Liability Corporation (LLC): Income Statement and Balance Sheet
The process can take up to 90 days. Let Cayenne’s experienced certification experts help you attain the valuable NMSDC MBE certification in the shortest amount of time with the least amount of frustration. Contact us today using the form below!
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