Vendor Education Seminar and Networking Event

June 19, 2013 *Spokane Convention Center *Mick Matsuzawa mickm@omwbe.wa.gov Office of Minority and Women’s Business Enterprises (OMWBE) Vendor Education Seminar and Networking Event

Vision Statement To contribute to a vital Washington economy which includes minority, women and socially and economically disadvantaged businesses. Mission StatementTo 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. 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 Diversity Works in Washington

OMWBE 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) State Certifications Federal Certifications Diversity Works in Washington

CertificationsState and Federal • OMWBE • State • MBE • WBE or MWBE • CBE • Federal (Hwy, Transit, FAA) • DBE • ACDBE • SBE • OTHER • Seattle, Tacoma, Ports, King Cty • Seattle WMBE • SCSSmall Contractor and Supplier Certification • Federal • SBA 8(a) • HubZones • SDB • National Organizations • NMSDC • WBENC Diversity Works in Washington

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 Diversity Works in Washington

Elements of Certification Diversity Works in Washington

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) Diversity Works in Washington

Eligibility Criteria: SBE/ DBE Small 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. Diversity Works in Washington

Website • www.omwbe.wa.gov 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 Diversity Works in Washington

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. Diversity Works in Washington

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 Diversity Works in Washington

LDP Participating Banks Security State Bank Sterling Savings Timberland Bank Union Bank US Bank Washington Trust Wells Fargo West Coast Bank Whidbey Island Bank American 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 Diversity Works in Washington

Questions? Diversity Works in Washington

Vendor Education Seminar and Networking Event