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CVE VERIFICATION PROCESS

Learn about the evolution of CVE from PL 106-50 to PL 111-275, elements of verification process (Veteran Eligibility, Ownership, Control), top reasons for denial, and simplified renewal. Discover what NVSBC can and cannot do to help with verification. Gain insights to improve success chances in the verification process.

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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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