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Appanvil karma designer
summary Understanding Entity Owned
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What is an Entity-Owned Firm?

In the MySBA Certifications process, Entity-Owned firms are applicant businesses that are owned by a Controlling Entity from one of the five (5) approved organization types:

When a business wants to claim an EO certification it will have to prove that its controlling entity (the corporation at the top of its business structure) holds at least 51% ownership of the subsidiary business applying for SBA certification. This means the subsidiary business will need to prove (through EO documentation and verification) that its controlling entity holds 51% ownership all the way down through each level of the layered organizational structure.For EO certification applicants, this means MySBA Certifications will require you to delineate the connection to your parent company, provide all necessary parent company documentation, and even provide child company documentation if any child businesses separate your business from the top-level, controlling entity. Since this can be a complex chain of documentation for applicants to navigate, MySBA Certifications offers EO business applicants a consolidated controlling entity profile - a digital profile meant to store all holding company data that traces your business back to its controlling entity, no matter how many layers of separation exist in the organizational structure.This controlling entity profile will allow the applicant business to identify its controlling entity within the MySBA Certifications system (or establish the entity in the system, if needed), and then assign a POC from that controlling entity to provide documentation and verification of the entity's majority ownership of the business applying for certification. The profile will also allow the POC to manage both internal and external communications related to the EO application within the platform.

Users

  • Entity-Owned Applicant Firms

    • Roles in the unified certification application process

  • Controlling Entities

    • Roles in the unified certification application process

What’s to come in the handbook