SBA 8a program
by victoria102999, Window Shopper
- Created: September 21, 2009, 9:42 pm
I am in the process of buying 100% interest in a small construction company. The company nor myself has ever been certified by SBA for its 8a program. However, I.m told that in order to certify for the 8a program i must personally work at the business. I dont understand why I must personally be present at the business on a daily basis to demonstrate that I own and control the business.
I recently aquired 100% ownership of a small daycare which is managed by my three employees on a daily basis. While the net income after all expenses and taxes are paid leaves very little for me in terms of profits approximately 2-3%. But, that why I bought the daycare. I can use the continual residual income.
Why can't I do the same with the construction and certify as an 8a company. I will control and direct the company's future just as I do with my daycare. I also happens to have extensive knowledge and experience in the construction field.
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