Frequently Asked Questions
What is KMBC?
KMBC is the Kentuckiana Minority Business Council (www.kmbc.biz). KMBC is one of 39 affiliate councils of the National Minority Supplier Development Council (NMSDC) (www.nmsdc.org). KMBC primarily exists to certify minority-owned firms and to create meaningful partnerships between corporate members and minority businesses. KMBC also has numerous other services including training, mentoring, referral, bid posting etc. KMBC is a non-profit 501( c )3 business to business networking organization with over 100 members and 350 certified Minority Business Enterprises (MBEs).
What is the Vision and
Minority-owned businesses thrive in our increasingly diverse and growing community is our Vision Statement. Our Mission Statement is, To create meaningful partnerships between corporate members and NMSDC certified minority-owned businesses that maximize mutual success.
What is the difference between a member and a client?
Members of KMBC are the corporations and the public sector entities. It was these organizations that started KMBC and NMSDC in the early 70s. Clients are the minority business owners. KMBC serves the needs of both.
What are the criteria for certification?
KMBC certifies any for-profit business located in Minority status is given to individuals belonging to one or more of the following groups: African American Hispanic / Latino American Native American Asian Indian American Asian Pacific American
Does one have to be a
Yes. An applicant must be a Does KMBC certify ethnic women-owned businesses?
Yes, providing they meet the ethnic requirement listed above.
How much does certification cost?
New certification: $200 Recertification: $200
I have heard that KMBC frequently emails information to MBEs and Corporate Members. Why have I not received any emails from KMBC?
KMBC uses email as its primary form of contact with MBEs and Corporate Members. The email address used is the address provided to KMBC on the certification application. This is why your company profile always needs to be up to date.
Where is the KMBC located?
KMBC Headquarters
KMBC
What does the Certification Committee look for in an application?
The committee is looking for minority ownership, managerial operations and control. 'Ownership by minority individuals' means the business is at least 51% owned by such individuals or, in the case of a corporation or a LLC, such individuals own at least 51% of the shares and control Corporation's Board of Directors or the LLC's Board of Managers. For more information, call the certification director at 502.625.0137.
How long does the certification process take?
The certification process ranges from 40 to 60 days depending on when the application is submitted and completeness of supporting documentation.
What are NAICS Codes?
North American Industry Classification System (NAICS) is an industry classification system that groups' establishments into industry sectors based on the activities in which they are primarily engaged. The NAICS is a comprehensive system covering the entire field of economic activities, producing and non-producing. This system replaces the former Standard Industrial Classification (SIC) designations. Corporate
Where may I locate my business NAICS Code?
You may locate the NAICS code at your local public library or on the internet. The Website address is www.naics.com
Is a site visit required? What if I have a home-based business?
A site visit is mandatory and conducted at the business headquarters during the review process of an application. A site visit may be conducted at a home if the business is home-based.
How can I apply for certification if I do not have Internet access?
The certification application is available online at www.kmbc.biz. However, one may call the Director, Minority Business Certification at 502.625.0137 to have a copy faxed or mailed. Internet access is available at public libraries and various copy centers.
How important is access to the internet and email?
Nearly all of KMBCs information is sent electronically. Additionally, other corporations and MBE firms will want to communicate with you - this is an age of electronic communication for business to business, thus all are strongly encouraged to have email and Internet access.
What is the National Minority Supplier Development Council (NMSDC)?
The National Minority Supplier Development Council is the nations premier minority business membership organization. They are also the largest certifying organization for minority firms and the organization that most major corporations accept for certification. The Kentuckiana Minority Business Council (KMBC) is an affiliate of NMSDC; and as such, is responsible for certifying any minority-owned business that is primarily located within
If I get certified through KMBC, am I certified through the National Minority Supplier Development Council?
Yes, certification obtained through KMBC is valid throughout the
Am I eligible to be certified if I recently started my business?
Yes, there is no restriction on how long a business has been in operation.
How long is my certification valid?
Certification is valid for one year.
When do I have to recertify?
You must recertify by submitting a Recertification profile for your company at least one month prior to the expiration date or 'anniversary date' on your current certificate. We recommend you start the recertification process 30 to 60 days prior to your expiration date. KMBC sends reminder notices, however you are ultimately responsible for the timely processing of your recertification. Your anniversary date will not be 'moved or changed.' Failure to recertify by the anniversary date will result in an expiration of your certification. You may find instructions on the recertification process under the 'Certification' section of the website.
What documents should I submit with my application?
All businesses must provide the following: · Business Statement (if applicable) · Proof of U.S. Citizenship (passport, birth certificate) · Proof of Ethnicity for Owner(s), Partners, Shareholders (driver's license, birth certificate) · Two Years of Federal Tax Returns (Business)* · Financial Statements (P &L, statement of cash flows, balance sheet) · Notes Payable (if any) · Applicable Operating Business License and/or permits · Lease Agreements · Resume(s) of owner(s), partners or shareholders · Equipment Rental and Purchase Agreements (if applicable) · Contract or work history for the past three years (if applicable) (name/contact type of work performed or type of contract received) · Equipment owned or available (include description of equipment, year acquired, and current value) · Proof of Bonding Capacity (if applicable) · Bank Signature Card (copy signature card or letter from bank) · Indian/Native Americans Blood Degree Certificate (i.e. tribal registry letter, tribal roll register number) [if applicable] · $200.00 non-refundable processing fee
*Personal taxes if in business less than 1 year
What documents should I submit if my business is a corporation?
For a corporation, you must provide the following: · Article of Incorporation · Certificate of Corporation · Minutes of 1st Board Meeting · Copies of Stock Certificates · Current Stock Ledger · Corporate Bylaws · Proof of Stock Purchase
What documents should I submit if my business is a partnership?
For a Partnership, you must provide the following: · Partnership Agreements |