To qualify as an Eligible EDWOSB (Economically Disadvantaged Women-Owned Small Business), the company must meet the following criteria:
- It must be a WOSB (Women-Owned Small Business) with at least 51% ownership by one or more women who are considered “economically disadvantaged.”
- An economically disadvantaged woman must be responsible for managing the day-to-day operations, making long-term decisions for the business, holding the highest officer position, and working full-time during normal working hours.
- A woman is presumed to be economically disadvantaged if she has a personal net worth below $750,000 (with certain exclusions), an average adjusted gross yearly income of less than $350,000 over the preceding three years, and a fair market value of all her assets that is less than $6 million.
It’s important to note that both WOSB and EDWOSB require unconditional and direct 51% ownership by women.
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