Wyoming Business Tips for July 5

A weekly look at Wyoming business questions from the Wyoming Small Business Development Center (WSBDC), part of WyomingEntrepreneur.Biz, a collection of business assistance programs at the University of Wyoming.

By Alyssa Lozier, Wyoming Procurement Technical Assistance Center (PTAC) specialist

“I am an economically and socially disadvantaged business owner needing assistance with going through the 8(a) application process. Can you provide me with steps to get through the process?” Angela, Sheridan

To get started with the actual application process, after verifying that you meet all the eligibility requirements, it’s time to start gathering supporting documentation.

The documentation varies from background information, state filings, governing documents, taxes and financial information to principal information. You can view the full checklist of supporting documentation at: www.sba.gov/content/8a-application-checklist.

Next, you’re going to need official copies of all governing documents. These must be current and approved by the state. Additionally, you’ll need an active Data Universal Numbering System (DUNS) number, Taxpayer Identification Number (TIN) or Employer Identification Number (EIN) and active registration in the System for Award Management website. Finally, you’ll need to get a Small Business Administration (SBA) General Login System (GLS) user ID at https://eweb.sba.gov/gls.

The GLS login is very important, as this will be your gateway to the 8(a) online application. A hard copy application is available, but some supporting documents will need to be uploaded to GLS, so it’s recommended that you complete the application online from the start. Be sure to work with your PTAC on completing these steps to ensure accuracy.

Once logged into GLS, you can request 8(a) application access by using the business EIN/Social Security Number (SSN) and DUNS number. You’ll go through a series of steps to update your profile, request program office approval and essentially be granted access to start the online application process. Throughout the application, you may be required to download, fill out and sign additional forms, including supporting documentation.

Nearing the end, you’ll download, print and sign the completed application. This action will prompt you to mail the application package, supporting documentation and checklist to the SBA. Your application then will be in a processing queue so an SBA analyst can begin the review process.

The SBA is going to read deep into the application, and questions may arise about documentation or answers to some of the questions. To avoid raising any red flags, before submitting, make sure your attached supporting documentation thoroughly answers all the sections and that you’re demonstrating complete control of the business.

Should the SBA deny your initial application, don’t fret: A request for reconsideration can be made within 45 days from the date on the denial letter. This will allow you to go back through the application and correct any weak areas. The goal is to submit a strong and successful application, so be sure to work with your local small business resources.

A blog version of this article and an opportunity to post comments are available at http://wyen.biz/blog1/.

The WSBDC is a partnership of the U.S. Small Business Administration, the Wyoming Business Council and the University of Wyoming. To ask a question, call 1-800-348-5194, email wsbdc@uwyo.edu, or write 1000 E. University Ave., Dept. 3922, Laramie, WY, 82071-3922.