Asynchrony HUBZone

ASYNCHRONY CERTIFIED IN HISTORICALLY UNDERUTILIZED BUSINESS ZONE

Asynchrony is very proud to participate in the United States Small Business Administration’s HUBZone Empowerment Contracting Program. Enacted by congressional legislation in 1997 sponsored by Sen. Christopher “Kit” Bond, the program helps increase employment opportunities and stimulate economic development and capital investment in distressed communities. Asynchrony has an in-house incentive program to motivate employees to relocate into a HUBZone.It provides preferences for federal-contracting awards to qualified small businesses.

The use of government incentives to encourage development in depressed areas has been around since the 1970s. These early programs usually emphasized cost savings, incenting companies to locate in enterprise zones in order to gain competitive advantage through tax savings. The HUBZone program instead provides an opportunity for participating companies to increase their revenues by preferential treatment in their pursuit of federal-government contracts.

HUBZONE CERTIFICATION

HUBZone-certified companies have three contract vehicles that provide them with an advantage in the federal procurement process:

  • Competitive set-aside
  • Sole source contract
  • 10% price advantage

COMPETITIVE SET-ASIDE

If two or more HUBZone concerns are qualified to compete at a reasonable price for any specific requirement between $2,500 and $100,000, a procurement official must offer it as a HUBZone set-aside, taking precedence over consideration of the small business set-aside.

SOLE SOURCE CONTRACT

If only one responsible HUBZone small business concern can satisfy a non-manufacturing requirement of between $100,000 and $3,000,000, a participating agency’s contracting officer may award contracts to HUBZone small business concerns on a sole source basis without considering a small business set-aside.

10% PRICE ADVANTAGE

A preferential factor of 10 percent is applied to bids by HUBZone companies. A full and open competition contract can be awarded with this price-evaluation preference. The HUBZone business’s offer will be considered lower than a non-HUBZone business’s, as long as the offer of the HUBZone small business is not more than 10 percent higher. Also, subcontracting plans for large-business federal contractors must include a negotiated HUBZone contracting goal.

The entire HUBZone program is geared toward efficiency and takes advantage of technology. Application submission, tracking and analyst review are all accomplished electronically. While many government programs still rely on an inefficient paper-based process, the HUBZone program was set up from the start as one of the federal systems’ first all-electronic, virtual programs.

In order to expand and still meet HUBZone residency requirements, Asynchrony has an in-house incentive program to motivate employees to relocate into a HUBZone. Many employees have already relocated to a HUBZone, which not only positions the company for growth, but also contributes to the revitalization of the HUBZone areas.

WIN-WIN-WIN SOLUTION

  • Distressed areas win by an infusion of jobs, investment and economic development.
  • Participating small businesses win by increased opportunities to do business with the federal government.
  • Federal agencies win by receiving excellent goods and services from small businesses, and helping them grow as future partners.

Asynchrony supports the HUBZone program and encourages federal agencies and other small businesses to learn how they can take advantage of its benefits while helping to contribute to the program’s worthy aims.

ASYNCHRONY HUBZONE LLC

Asynchrony’s HUBZone company was formed in 2005 and certified as a HUBZone company by the SBA in April 2005. Due to recent changes in the regulations related to HUBZone companies, the HUBZone company can be managed and controlled by Asynchrony Solutions management, and operates as a sister company. Employees can seamlessly move between the two companies, providing our customers and partners the advantages of a certified HUBZone company, with Asynchrony Solutions’ experience and resources. See the HUBZone company’s web site for more information about Asynchrony HUBZone LLC.