Historically Underutilized Business Zones - HUBZone Empowerment Contracting Program
Page 2

The HUBZone program is also designed to stimulate investments, creation of jobs, and economic development and improvement in both rural and urban communities through the provision of federal contracting preferences to firms that are recognized by the Small Business Administration as an accredited HUBZone business.

In order to be considered eligible to apply for the Historically Underutilized Business Zones (HUBZone) Empowerment Contracting Program, the applicant must be:

a) Classified as a small business as defined by SBA standards

b) Owned and controlled (at least 51st percent) by one or more US citizens, a Community Development Corporation, an agricultural cooperative or an Indian tribe

c) Located in a HUBZone area

d) Certify that at least 35% of its employees/workers are living in the HUBZone area.

The Small Business Administration has constantly been working towards the maintenance and improvement of the nation's economy by providing protection, assistance, and counseling to the interests of small business establishments.

In the fiscal year 2004, over 2,294 business were certified as HUBZone qualified small businesses.

Historically Underutilized Business Zones - HUBZone Empowerment Contracting Program
  Back to Page 1

About The Author Michael Saunders is an editor of TopGovernmentGrants.com one the the most comprehensive Websites offering information on government grants and federal government programs. He also maintains Websites providing resources on environmental grants and grants for youth programs.

Additional Resources

category - Small Business Grants

Department of Agriculture: Value Added Producer Grants
The Value-Added Producer Grants program is geared towards helping the Independent Producers of Agricultural Commodities, Agriculture Producer Groups, Farmer and Rancher Cooperatives, and Majority-Controlled Producer-Based Business Ventures in developing techniques that would create marketing opportunities and establish business plans involving viable marketing opportunities that involve the production of bio-based products from agricultural commodities.

---

Secondary Market Lending Authority Program
The Small Business Administration has constituted the Secondary Market Lending Authority program, one which aims to provide liquidity for the secondary market, thereby ultimately encouraging new lending opportunities from banks of Small Business Administration guaranteed loans.

---

Small Business Administration Background
The Small Business Administration was established in 1953. Since that time the agency has dispensed millions of dollars in loans and loan guarantees, contracts, consulting assistance and other programs for small business across the United States.

---

Community Development Financial Institutions
Community Development Financial Institutions are basically financial institutions who possess the ability to provide credit and financial services to underserved industries and communities.

---