To be eligible for the 8(a) Program, businesses must meet the following criteria:
Ownership and Control
Must be at least 51% owned and controlled by U.S. citizens who are socially and economically disadvantaged.
Social Disadvantage
Individuals must demonstrate they have been subjected to racial or ethnic prejudice or cultural bias within American society.
Economic Disadvantage
The personal net worth of each owner claiming economic disadvantage must not exceed $250,000, excluding equity in the business and primary personal residence.
Operational History
The business must have been operational for at least two years before applying and demonstrate a track record of success.
Size Requirement
Must qualify as a small business under SBA size standards.
Good Character and Potential for Success
Applicants must exhibit good character and a potential for success in their industry.