For the first time, the Center for Veterans Enterprises (CVE) will offer veteran business owners a true second chance when it comes to applying to its VetBiz Vendor Information Pages (VIP) Program.
Beginning today, May 1st, the CVE will allow applicants the opportunity to correct minor deficiencies before an initial denial is issued. This opportunity is aimed at companies that would not be verified due to a single point of failure in their applications, such as an impermissible provision in an operating agreement. These companies will receive a preliminary finding before a determination letter of eligibility is issued. They will then have 48 hours to respond with their intent to correct and resubmit the documents within a specified timeframe.
This is the most recent initiative designed to improve the verification process, following the recent publication on the VetBiz website of a number of new Verification Assistance Briefs. The CVE expects this to greatly reduce the number of its initial denials and subsequent requests for reconsideration. The process will also increase wait times, as it adds an additional step; but for those companies that obtain verification as a result, the wait is worth it.
The overall success rate will also be positively impacted. A second chance before denial will make a huge difference, as many veteran business owners complain of being denied VetBiz verification due to a minor issue they weren’t given the opportunity to correct.
We all know the VetBiz Program is still undergoing growing pains. Hopefully this new second chance will push it closer towards full development.
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