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This document serves to certify businesses as Section 3 Business Concerns in North Carolina for promoting compliance with federal regulations that provide employment and training opportunities for
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How to fill out section 3 business concern
How to fill out Section 3 Business Concern Self Certification
01
Begin by downloading Section 3 Business Concern Self Certification form.
02
Fill in your business's legal name in the designated field.
03
Provide the business's physical address, including city, state, and zip code.
04
Include your business's contact information, such as phone number and email.
05
Indicate the type of business entity (e.g., LLC, Corporation, Sole Proprietorship).
06
Confirm eligibility by checking the appropriate boxes regarding ownership and control by low-income individuals.
07
Provide a brief description of the services or products your business offers.
08
Sign and date the certification form at the bottom.
Who needs Section 3 Business Concern Self Certification?
01
Any business that seeks to participate in federally funded projects and needs to verify compliance with Section 3 requirements.
02
Businesses owned by low-income individuals or those that employ low-income individuals, as defined in Section 3 regulations.
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What is Section 3 Business Concern Self Certification?
Section 3 Business Concern Self Certification is a process that allows businesses to certify themselves as being owned and operated by individuals from low- and very low-income backgrounds, as part of a program to promote economic opportunities for these groups.
Who is required to file Section 3 Business Concern Self Certification?
Businesses that receive funding from HUD (U.S. Department of Housing and Urban Development) and want to be recognized as Section 3 Businesses, typically those that are at least 51% owned by low- or very-low-income individuals, are required to file this certification.
How to fill out Section 3 Business Concern Self Certification?
To fill out the Section 3 Business Concern Self Certification, business owners must provide information about their ownership structure, the income levels of the owners, and any relevant business practices that demonstrate their commitment to promoting economic opportunities for Section 3 residents.
What is the purpose of Section 3 Business Concern Self Certification?
The purpose of Section 3 Business Concern Self Certification is to ensure businesses that are truly serving low-income communities can access opportunities and funding, thereby generating jobs and economic growth for those areas.
What information must be reported on Section 3 Business Concern Self Certification?
The information that must be reported includes the ownership percentage of low- and very low-income individuals, documentation of income levels, business activities, and the commitment to hiring Section 3 residents.
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