• To be considered an eligible owner, you must be a U.S. citizen or lawful permanent resident and a member of one of the following groups:
o Black – origins in any of the Black racial groups or Africa
o Hispanic – Mexican, Puerto Rican, Cuban, Central or South American, or other Spanish or Portuguese culture or origin, regardless of race
o American Indian/Alaskan Native – origins in any of the original peoples of North America
o Asian American – origins in any of the original peoples of the Far East, Southeast Asia, the Indian Subcontinent or the Pacific Islands
• Eligible owner must own at least 51% of the business
o Ownership percentages are not rounded. 50.99% ownership will not be rounded up to 51% ownership.
• Eligible owner must control the firm’s managerial and day-to-day operations. They must have both the legal authority and technical ability to control the firm. If the state of Louisiana requires a professional license to perform the firm’s line of work, the eligible owner must hold this license, even if the owner is not the one performing the work.
• Firm must be an independent business, organized for profit, and legally licensed to do business in Louisiana
o Out of state firms that do not have a location in Louisiana and do not have a physical presence in Louisiana in order to conduct business may not be required to have a Louisiana Business License.
• The firm must be a small business as defined by the U.S. Small Business Administration (SBA) size standards and as applicable to the business’ primary business activities. Primary business activities are defined by the firms assigned NAICS codes. (NAICS=North American Industry Classification System)