vendor education seminar and networking event
DESCRIPTION
June 19, 2013 * Spokane Convention Center *Mick Matsuzawa [email protected] Office of Minority and Women’s Business Enterprises (OMWBE). Vendor Education Seminar and Networking Event. Vision Statement - PowerPoint PPT PresentationTRANSCRIPT
Vendor Education Seminar and Networking Event
June 19, 2013 * Spokane Convention Center*Mick Matsuzawa [email protected]
Office of Minority and Women’s Business Enterprises (OMWBE)
Diversity Works in Washington
Mission Statement
To create and sustain a competitive and fair business environment for contracting and procurement opportunities
that includes small businesses owned by minority, women, and socially and economically disadvantaged people.
Vision Statement
To contribute to a vital Washington economy which includes minority, women and socially and economically
disadvantaged businesses.
Diversity Works in Washington
History Established in 1983
MBE/WBE under represented in contracting
Increase state spending with agencies and educational institutions
Diversity Works in Washington
What does OMWBE do? Certification
State Federal
Database Management
Business Development/ Agency Support
Linked Deposit Program
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OMWBE CertificationsState Certifications Federal Certifications
Minority Business Enterprise (MBE)
Women’s Business Enterprise (WBE)
Minority Women’s Business Enterprise (MWBE)
Combination Business Enterprise (CBE)
Socially and Economically Disadvantaged Business Enterprise (SEDBE)
Disadvantage Business Enterprise (DBE)
Airport Concessionaires Disadvantaged Business Enterprise (ACDBE)
Small Business Enterprise (SBE)
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CertificationsState and Federal
OMWBEState• MBE• WBE or MWBE• CBE
Federal (Hwy, Transit, FAA)
• DBE• ACDBE• SBE
OTHERSeattle, Tacoma, Ports, King Cty• Seattle WMBE• SCS Small Contractor and Supplier
Certification
Federal • SBA 8(a)• HubZones• SDB
National Organizations• NMSDC• WBENC
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What are the Benefits of Certification? Helps firms do business with:
State agencies and schools Federal agencies Private sector entities
Certified firms are more attractive to public buyers as they count towards M/W/DBE participation goals
Certified firms are listed on OMWBE’s online directory
State certified firms are eligible for the LDP
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Elements of CertificationM/WBE For Profit Business SBE For Profit Business DBE for Profit Business
US Citizenship/Permanent Resident
US Citizenship/Permanent Resident
US Citizenship/Permanent Resident
Eligible Owner Race and Gender Neutral Eligible Owner
Ownership Ownership OwnershipManagerial Control Managerial Control Managerial Control
Operational Control Operational Control Operational Control
Intertwinement Independence Independence
Size Size Size
Commercially Useful Function
Personal Net Worth (PNW) Personal Net Worth PNW)
Licensing
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Eligible Owners Women
African American/ Black American
Hispanic American
Native American /HI/Ak
Asian-Pacific American
Subcontinent Asian American
Socially & Economically Disadvantaged Individuals (case-by-case)
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Eligibility Criteria: SBE/ DBESmall businesses must meet the following requirements:
– The eligible owner (s) controls 100% of the firm. An "eligible owner" is an individual who meets the requirements.
– The eligible owner's personal net worth does not exceed $1.32 million.– The eligible owner(s) is actively involved in the day-to-day management and control of the firm, as well
as the delivery of its products and services.– The firm is a bona fide existing business that performs work for the purpose of making a profit. A newly
formed firm may be certified. Not-for-profit organizations are not eligible to be certified as SBEs.– The firm is independent as indicated by the absence of control or influence of a non-SBE firm. The firm
does not share personnel, facilities, equipment, financial or other resources with a non-SBE firm. The firm is not "affiliated" with a non-SBE firm as defined by Small Business Administration Regulations, 13 CFR part 121.
– The firm seeking SBE certification must cooperate fully with the Department's requests for information relevant to the certification process. Failure or refusal to provide such information may result in denial or removal of certification.
– Firms interested in applying for certification must submit a completed application and Certification Affidavit to OMWBE. OMWBE will review the completed application and notify the applicant in writing of its decision within ninety (90) days.
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Website www.omwbe.wa.gov
Diversity Works in Washington
OMWBE Online Directory
Diversity Works in Washington
OMWBE Online Directory
Diversity Works in Washington
Linked Deposit Program (LDP)
1993 Legislature – Minority and Women Owned Business Assistance Act
Links the deposit of state funds to loans made by participating financial institutions to qualified M/WBE firms
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How does the LDP work? The deposit of state funds is made at below market
rates. The savings are then passed on by the bank to the Linked Deposit borrowers in the form of an interest rate reduction not to exceed two percent (2%).
The State Treasurer is authorized to use up to $175 million (as of 6/12/08) of the State's short-term surplus funds to purchase certificates of deposit in an amount equivalent to the amount financial institutions loan to certified minority and women's business enterprises.
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Qualifying LDP Loans Firm must be State Certified
$1 million per-loan maximum; no limit on the number of loans a firm may have
$5 million lifetime limit of LDP enrolled loans
Loan term: Up to 10 years
Firms must satisfy their bank's financing/loan criteria
Participants decertified by OMWBE will have their loans removed from the program, at which time they will lose the interest rate reduction
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LDP Participating BanksAmerican West Bank
Bank of America
Bank of the Pacific
Banner Bank
Cathay Bank
Coastal Community Bank
Columbia State Bank
EastWest Bank
Fortune Bank
Heritage Bank
Key Bank
Kitsap Bank
Pacific Continental Bank/ NW International
Plaza Bank
River Bank
Riverview Bank
Security State Bank
Sterling Savings
Timberland Bank
Union Bank
US Bank
Washington Trust
Wells Fargo
West Coast Bank
Whidbey Island Bank
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Questions?