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CVE VERIFICATION PROCESS

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

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CVE VERIFICATION PROCESS

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  1. CVE VERIFICATION PROCESS Presented by:

  2. 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 • December 2006: PL 109-461 creating the VETS First and Verification • October 2010: PL 111-275 new verification rules in effect

  3. Elements of Verification • Veteran Eligibility • Ownership • Control

  4. Veteran Eligibility • Honorable Discharge • DD 214 • BIRLS • Not on EPLS

  5. Ownership • Total must add to 100% • Unconditional Ownership • Minimum By Veteran 51% • Ownership Must Be Direct

  6. Control • Unconditional Control • 51% of Annual Distributions • No Dependence on Other Entities • Control of Strategic Policy • Control of Day to Day Operations • Highest Officer and Compensated • Control of Boards • Full Time Control • Community Property

  7. Top Reasons for Denial • Quorum Restrictions • Transfer Restrictions • Weighted Voting Requirements • Dependence on Other Entities • Control of Strategic Policy • 51% of Distributions • MGMT of Dailey Business • Higher Officer Position • Day to Day Management

  8. Verification Process • Pre-Application Review • Initiation • Examination • Evaluation • Determination • Reconsideration • Final Determination

  9. Simplified Renewal • If no Change….2 years • Post Approval audit of Documents • Random site Visit

  10. Likelihood of Success • 50/50

  11. NVSBC Services • Explanation of Process & Requirements • Review of All Corporate Documents • Assistance with Submissions • Improve Likelihood of Success

  12. What NVSBC Cannot Do • Submit Documents for You • Guarantee Verification

  13. National Veteran Small Business Coalition A VA Verification Partner www.nvsbc.org scott.denniston@nvsbv.org 703-282-4140

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