Entrepreneurial Success Award

 

Eligibility Requirements:

  • Individuals must own and operate businesses initially launched as a small business according to SBA size standards and subsequently developed into large businesses; they must have received SBA assistance to help the businesses grow.
  • To be nominated to receive this award, the nominee must be an individual who owns and operates, or who bears principal responsibility for operating a business. Partners who jointly own and operate a business may be nominated as a “team,” so long as the number of individuals in the team nomination does not exceed four.
  • Nominees must also be residents of and employed in the United States or its territories and will be subject to background checks.

 

Selection Criteria:

  1. Staying power- Minimum 3 years in business, sustained expansion (addition of territories, growth in square footage occupied), steady growth in net worth as evidenced by total assets less total liabilities on the calendar year-end annual balance sheets for 2014, 2015 and 2016.
  2. Growth in the number of employees- Growth sustained over a minimum of three years. Increase over the three years must be in excess of growth in Gross National Product.
  3. Increase in sales and/or unit volume- Consistent growth in net income as evidenced by fiscal year annual profit-and-loss statements for calendar years 2014, 2015 and 2016.
  4. Current and past financial performance – Profit-and-loss statements for the last three years, reflecting sustained upward growth. Balance sheets for calendar years 2014, 2015 and 2016, showing a consistent increase in net worth and/or partners’ return.
  5. SBA Assistance – documentation of the type(s) and amount(s) of SBA assistance received by the business and the year(s) in which it was received.

 

Submission Documents:

  • SBA Form 3300, Award Nomination Background Form
  • A brief biography of the nominee, not to exceed one page. For “team” nominations, a biography is required for each team member.
  • A business profile that includes a description of the nominee’s business and information to support the evaluation/selection criteria listed above.
  • The nominee’s financial performance in the following format:

 

Financial Summary:
Year 2014 2015 2016
Number of Employees
Total Sales
Net Profit (Before Tax)
Total Assets
Total Liabilities
Net Worth

 

  • Based on the financial chart provided above, please explain in more detail the business’s year to year changes in financial health (e.g. sales, net profit, net worth) and the number of employees.
  • Additional supporting documentation deemed significant by the nominator, including news clips, letters of recommendation and other evidence of the appropriateness of the nomination (supporting documentation must not exceed 10 pages). Videos will not be considered;
  • An original 8” x 10” or 5” x 7” photo of the nominee or a digital photo – at least 300 dpi; photocopies are not acceptable. For “team” nominations, a group photo is acceptable