Fraud attempts often made by SBA applicants

SBA 8A certification is the success ladder for the small firms to flourish and prosper in the federal marketplace. Read on to know the common 8A application tricks often used in the SBA program.
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Wilder, KY ( March 28, 2013 - The laws and rules pertaining to SBA 8a contracts are quite severe, and the federal program offers its benefits to the qualified candidates only. However, to enjoy the SBA benefits and avoid the stringent procedure of the application program candidates/small business owners, often attempt to use some manipulations and tricks. Such tricks used by applicants to procure the federal contracts are not considered fit by SBA.
SBA professionals suggest the applicants to be true and honest in their federal approach and avoid using any trick or of false method while requesting for the certification in order to make the most of the 8A contract opportunities. Such candidates who use certain tricks or cons often overlook the fact that SBA has operated such federal program for more than 50 years, and is aware of all the probable ambiguities and loopholes. Thus, technically, it is not possible to fool the SBA using some trick or con.

Major tricks and cons often attempted by the SBA candidates

According to the reports, there are 10 common tricks and manipulations, which are generally attempted by the impulsive applicants to deal with the SBA 8a certification requirements in a trouble-free manner. Such cons may include:

* Not revealing the arrest record of the company owner, thinking that SBA will not be aware of it
* Using papers and documents to put on a cloak on official lease, business loan or bonding which a friend of family member approves.
* Hiring a minority individual as the company President to derive the advantages of social disadvantage
* Owning an offshore office and not notifying it to SBA, thinking the federal body will overlook it if the owner does not claim for the revenues or employees.
* Not handing over the required documents asked by SBA, thinking the federal body may overlook it.
* Procuring contracts from any previous employer or a family associate to display to SBA that the related company has suitable experience
* Transferring the authority of the business to the spouse of the owner to get the advantages provided by woman oriented business
* Adding a special clause in the management of the candidate's company to provide special authority to the company officials who are not disadvantaged.

The SBA 8A certification requirements are not easy to complete and often turn out to be a difficult aspect for the applicants, which instigates them take fraud attempts. SBA can identify such fraud cases easily and refuses such applications instantly, without delay.


Tag Words: sba 8a, 8a certification, 8a program, sba 8a application, dbe certification, 8a contracts, 8a small business
Categories: Business

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