Virginia Small Business Supplier Diversity Programs Overview
"Explore Virginia's Small Business Supplier Diversity Programs managed by the Department of Small Business and Supplier Diversity. Learn about access to capital, advocacy, business development, certification, economic impact, SWaM initiatives, current designations, and COVID-19 support services available for small businesses in Virginia."
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Department of Small Business and Supplier Diversity The Small Business Commission November 6, 2020 1:00 p.m. Chair, Delegate Alfonso Lopez Tracey G. Wiley Agency Director tracey.jeter@sbsd.virginia.gov www.sbsd.virginia.gov
DSBSD AGENCY OVERVIEW ACCESS TO CAPITAL Virginia Small Business Financing Authority (VSBFA) ADVOCACY Legislation, Policy and, Facilitation BUSINESS DEVELOPMENT & OUTREACH Access to seminars, workshops, and events to grow and develop Virginia s small businesses CERTIFICATION SWaM (state program) and DBE (federal program) www.sbsd.virginia.gov
Economic Impact FY15, the discretionary spend was $2.13 billion. The total economic impact of that spend equated to $3.6 billion. Job Creation Virginia Operating Revenue Sales and Income Tax Collection Every $1.00 spent with SWaM businesses returns to the Commonwealth is $1.69 www.sbsd.virginia.gov
SWaM Initiative Overview The SWaM Program is the Commonwealth s small business program that was created to enhance procurement opportunities for Small, Women-, and Minority-owned businesses participating in state-funded projects. On August 10, 2006, Governor Timothy Kaine signed Executive Order No. 33. On July 22, 2014, Governor Terence McAuliffe signed Executive Order No. 20, replacing Executive Order No. 33. On July 3, 2019, Governor Ralph Northam signed Executive Order No. 35, replacing Executive Order No. 20. www.sbsd.virginia.gov
Current SWaM and DBE Designations The Commonwealth SWaM program has grown over time and now includes nine certification designations that count toward agency achievement of the EO 42% spend goals. The current SWaM designations are: Minority owned businesses (MB) Women owned businesses (WB) Micro businesses (O) Service Disabled Veteran owned businesses (SDV) Small businesses (SB) Employment Service Organizations (ESO) 8(a) federally certified businesses (8a) Economically Disadvantaged Woman Owned Small Businesses (EDWOSB) Federally certified Service Disabled Veteran owned businesses (FSDV) The Federal Disadvantaged Business Enterprise program includes the following designations: Disadvantaged Business Enterprises (DBE) Airport Concession Disadvantaged Business Enterprises (ACDBE) www.sbsd.virginia.gov
COVID-19 Our Services, Our Pivot Communication support to the over 700K small businesses in Virginia Daily/Weekly email blast Guidance on the EIDL and Paycheck Protection Program Local funding resources both public and private Business Development Teams -1:1 Technical Assistance, Virtual Workshops Webinars with stakeholder groups, agencies and corporations Capacity Building Program- Scaling4Growth is now statewide and Virtual. www.sbsd.virginia.gov
COVID-19 Our Services, Our Pivot Virginia Small Business and Financing Authority Deferred monthly loan payments (P/I) Six months and extended loan maturities Six months for borrowers on the SWaM Microloan Child Care and Economic Development Loan Financing Programs who accepted our offer; reduced the Child Care loan interest rate to 0% Credit enhancement through our Cash Collateral or Loan Guaranty Programs www.sbsd.virginia.gov
Thank You Agency Information 101 N. 14th Street James Monroe Building 11th Floor Richmond, VA 23219 Questions www.sbsd.virginia.gov
