Service Thread receives federal HUBZone business certification
Posted April 23, 2020
LAURINBURG, N.C. – Sam M. Butler Inc. (d/b/a Service Thread) announced that it is now one of the federal government's 2020 HUBZone-certified businesses.
HUBZone, which stands for Historically Underutilized Business Zone, is a U.S. Small Business Administration program certifying at least 3 percent of all federal contracting dollars small businesses each year.
In order to qualify, Service thread followed a rigorous certification process that included proving their status as a qualified tax-paying small business, operating in a federally designated HUBZone, hiring at least 35 percent of its employees from a HUBZone, and maintaining at least 51 percent ownership by American citizens. Service Thread is a 100 percent American-owned business.
HUBZone status brings numerous benefits to Service Thread and its clients. These benefits include:
First consideration for bids on government contracts in HUBZone-designated areas;
Preferential consideration during full and open competitive bidding processes;
10 percent price evaluation preference in full and open contract competitions; and
Eligibility for set-aside contracts, which level the playing field for small businesses.
Service Thread CEO Jay Todd said he appreciates the company's new HUBZone status.
"Every hardworking member of the Service Thread team helped make this happen and I am incredibly grateful,” he said. “This is a proud moment for us that once again proves we are one of America's most successful small businesses."
Like all HUBZone members, Service Thread will be required to re-certify its status once per year and maintain the high standards of the program. The Small Business Administration visits HUBZone business unannounced for inspections to determine ongoing program compliance.
Source: Service Thread