CVE VERIFICATION PROCESS
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CVE VERIFICATION PROCESS Presented by:
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CVE VERIFICATION PROCESS. Presented by:. Evolution of CVE. August 1999: PL 106-50 signed, creating the SDVOSB 3% Goal February 2001: CVE created to help veterans in Federal space February 2003: VIP established to be accessible data base for VOSBs and SDVOSBs - PowerPoint PPT Presentation
Transcript of CVE VERIFICATION PROCESS
CVE VERIFICATION PROCESSPresented by:
Evolution of CVEAugust 1999: PL 106-50 signed, creating the
SDVOSB 3% GoalFebruary 2001: CVE created to help veterans
in Federal spaceFebruary 2003: VIP established to be
accessible data base for VOSBs and SDVOSBsDecember 2006: PL 109-461 creating the
VETS First and VerificationOctober 2010: PL 111-275 new verification
rules in effect
Elements of VerificationVeteran EligibilityOwnershipControl
Veteran EligibilityHonorable DischargeDD 214BIRLSNot on EPLS
OwnershipTotal must add to 100%Unconditional OwnershipMinimum By Veteran 51%Ownership Must Be Direct
ControlUnconditional Control51% of Annual DistributionsNo Dependence on Other EntitiesControl of Strategic PolicyControl of Day to Day OperationsHighest Officer and CompensatedControl of BoardsFull Time ControlCommunity Property
Top Reasons for DenialQuorum RestrictionsTransfer RestrictionsWeighted Voting RequirementsDependence on Other EntitiesControl of Strategic Policy51% of DistributionsMGMT of Dailey BusinessHigher Officer PositionDay to Day Management
Verification ProcessPre-Application ReviewInitiationExaminationEvaluationDeterminationReconsiderationFinal Determination
Simplified RenewalIf no Change….2 yearsPost Approval audit of Documents
Random site Visit
Likelihood of Success50/50
NVSBC ServicesExplanation of Process & Requirements
Review of All Corporate Documents
Assistance with SubmissionsImprove Likelihood of Success
What NVSBC Cannot Do
Submit Documents for You
Guarantee Verification
National Veteran Small Business Coalition
A VA Verification Partnerwww.nvsbc.org
703-282-4140
