VeriFacts, a leading employment verification service in the accounts receivable management industry, is pleased to announce its certification as a Woman-Owned Business. The certification process was performed by Women’s Business Enterprise National Council (WBENC), a nationally recognized 501(c)(3) nonprofit organization. Certified Women-Owned Businesses (Women’s Business Enterprises or WBEs)– particularly Women-Owned Small Businesses (WOSBs) such as VeriFacts— are eligible through certain corporate, state, and federal programs for targeted development initiatives. These incentives often extend to business partners and clients of WOSBs through various tax and market benefits.
Benefits for Clients and Partners
“We’re so pleased to share the news of our certification with our current clients and future partners who may receive federal tax accommodations for using a woman-owned business. Using a woman-owned company for labor or services funded by federal/state grants/loans can greatly reduce tax liabilities,” shared VeriFacts CEO, Stephanie Clark. “Additional advantages to partnering with a WBENC-certified business include reaping the shared benefit of increased relationships and partnerships through related diverse companies.”
The WBENC certification process requires a business to be thoroughly vetted as at least 51% owned, controlled, operated, and managed by a woman or women. Specifically, one or more women must have “unrestricted control of the business in legal documents and day-to-day operations,” which must be validated through extensive documentation and a site visit. According to the certified business Miller Tanner, the process is lengthy, and “intensely scrutinized” because of being a highly valued certification.
VeriFacts was able to obtain not only WBENC certification but also WOSB certification through the U.S. Small Business Administration. This allows the company to participate in the WOSB Federal Contracting Program as intended by the 2015 National Defense Authorization Act. The certification process has recently become more stringent in oversight and validation due to requirement updates made in 2020 and the increase in stimulus funds made available to various qualifying small businesses.
“Being certified offers many advantages to our business, such as preference for contracts with government entities. It opens up new doors for us in the form of training workshops, technical guidance, and increased business partnership opportunities,” concluded Mrs. Clark.
Additional types of SBA certifications include HUBZone, Veteran-Owned, and Minority-Owned, among others. Small businesses interested in Small Business Administration certifications and other small business opportunities can visit SBA.gov to learn more.
To learn more about the guaranteed accurate location and employment verification services (with a money back guarantee) that VeriFacts provides, please visit vfacts.com.
The Women’s Business Enterprise National Council (WBENC) began in 1997 to develop a nationwide standard for women-owned business certification and has grown to become the largest third-party certifier in the United States. The nonprofit organization is dedicated to women in business through certification as well as corporate and government advocacy. Its 14 regional partner organizations assist women-owned businesses throughout the country by offering certification administration, programs, and networking opportunities to support female entrepreneurs and business leaders in accessing valuable resources to address challenges and barriers women-owned businesses commonly face.
About VeriFacts, LLC
VeriFacts, LLC is the top employment location and verification service for the receivables management industry. Having been in business for over 30 years, they are known for their experience and trusted quality information. VeriFacts specializes in the location of consumer employment information. Over the years, their services have expanded into residential location information, data verification, and unique data aggregation. Their corporate headquarters and 100+ research specialists are located in Sterling, IL. If you’re interested in learning more visit the official VeriFacts website.