SBA Announces Certification Upgrade - Stone Bank

SBA Announces Certification Upgrade

The MySBA Certifications platform, managed by the U.S. Small Business Administration (SBA), is in the process of streamlining and simplifying its application process. The new process offers an online portal where businesses can apply for various SBA certifications, such as 8(a) Business Development, Women-Owned Small Business (WOSB), and HUBZone.

The updated system allows for digital submission of all required documents, real-time status tracking of applications, and provides guidance to ensure applicants meet eligibility criteria. Additionally, the platform integrates with other SBA systems, reducing the need for redundant data entry and improving overall efficiency. This modernization helps small businesses navigate the certification process more easily, saving time and resources while ensuring compliance with SBA requirements.

Key Points from the SBA:

  • MySBA Certifications is expected to be available for new applications in September.
  • Applications submitted before August 1 will continue to be processed during the upgrade period until a determination is made and will not be transferred to MySBA Certifications.
  • The pause in applications does not affect the Mentor Protégé Program, required reporting of material changes, or required annual recertification/renewal for HUBZone and 8(a) participants.
  • If your firm is facing a set-aside proposal decision that will be impacted by your certification status, please contact the SBA at certifications@sba.gov and provide the contract number, agency contact information, and bid due date.
  • Certifications impacted by the upgrade include:
    • Women-Owned Small Business
    • Economically Disadvantaged Women-Owned Small Business
    • 8(a) Business Development Program
    • Veteran Small Business Certification
    • Service-Disabled Veteran-Owned Small Business
    • Historically Underutilized Business Zones (HUBZone) Program

MySBA Upgrade Fact Sheet

Frequently Asked Questions

 

RELOCATION NOTICE

Effective December 31, 2024 all Stone Bank operations in the Little Rock market will be relocated to our new branch office and headquarters building at 12615 Chenal Parkway. This includes all consumer and commercial banking functions, including commercial lending and the interactive ATM adjacent to our current Little Rock location at 900 South Shackleford. The Shackleford location will close on December 31, 2024.

All Little Rock personnel phone numbers and e-mail addresses, as well as your access to our mobile banking app and website will remain the same.

We appreciate your continued business with Stone Bank.

If you have any questions about our relocation to our new Chenal address, or the closure of the Shackleford branch, please feel free to call our Little Rock team at (501) 503-4242.

Thank you.