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111603.htm
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<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd">
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<title>News&Events at the Center for Economic&Business Development</title>
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<div id="topheader2"> Center for Economic & Business Development </div>
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<h1>HUBZone: Qualification and Application Process</h1>
<ul id="tagline">
<li>November, 2003</li>
<li>by: Lisa Rockett</li>
</ul>
<p>A "HUBZone" is an area that is located in one or more of the following:</p>
<ul>
<li>a qualified census tract (as defined in section 42(d)(5)(C)(ii)(I) of the Internal Revenue Code); </li>
<li>a qualified "non-metropolitan county" (as defined in section 143(k)(2)(B) of the Internal Revenue Code) with a median household income of less than 80 percent of the State median household income or with an unemployment rate of not less than 140 percent of the statewide average, based on US Department of Labor recent data; or </li>
<li>lands within the boundaries of federally recognized Indian reservations.</li>
</ul>
<p>Computer mapping software available on SBA's website allows firms to search a database to determine whether they are located in a qualified HUBZone. The system allows searches by address, county, or town and displays metropolitan areas, Indian reservations, and counties that qualify by income, unemployment rate, or both. Access the site at <a href="http://www.sba.gov/hubzone">www.sba.gov/hubzone</a>. Select the option that let's you determine if you're in a HUBZone. To apply, companies are encouraged to use the electronic application on the HUBZone website listed above.</p>
<p>Before you start, you should have the following information at hand: </p>
<ul>
<li>Special licenses; </li>
<li>If your firm is a corporation, its articles of incorporation and stockholder's register, if your firm is a partnership, its partnership agreement, if your firm is a limited liability company, its company agreement;</li>
<li>Financial statements for your firm's three most recently completed fiscal years. If your firm has been in operation less than three years, financial statements covering however long it has been in operation;</li>
<li>If it's a franchise, the franchise agreement;</li>
<li>A current employee roster providing employee name, home address, and date of employment; </li>
<li>Employment records for the past twelve months; </li>
<li>A listing of any Federal Employment Tax Credits the firm receives; </li>
<li>Information on any current bonding arrangements through a company or individual not formally recognized as a surety provider; </li>
<li>Information on any non-bank lender(s) who provides credit to the firm (should cover name and citizenship of creditor, and amount owed); </li>
<li>Information (name, address, kind of business, etc.) about any other businesses that the owners, directors, or officers of your business own or manage; and, </li>
<li>Information from the birth certificate or certificate of naturalization for each owner, manager, member of the board of directors, or officer. </li>
</ul>
<p>The Center for Economic and Business Development along with the Oklahoma Small Business Development Center is able to help you through the application process. If you have any questions, please contact me (Lisa Rockett) at 580-774-7017 or <a href="mailto:[email protected]">e-mail</a>.</p>
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