CLEVELAND, Ohio -- HS Financial Group, LLC, today announced it has achieved Service Disabled Veteran-Owned Small Business (SDVOSB) certification through the U.S. Department of Veterans Affairs (VA), Center for Verification and Evaluation (CVE) and has been added to the VA’s Vendor Information Pages (VIP).


The VA’s Vets First Verification Program is a result of The Veterans Benefits, Health Care, and Information Technology Act of 2006 (Public Law 109-461). The CVE verifies SDVOSBs/VOSBs according to the tenets found in Title 38 Code of Federal Regulations (CFR) Part 74 that address Veteran eligibility, ownership, and control. In order to qualify for participation in the Veterans First Contracting Program, eligible SDVOSBs/VOSBs must first be verified.

Due to Federal programs encouraging small business utilization and SDVOSB participation in procurements, HS Financial has emerged over the last several years as a leading small business subcontractor on Federal contracts related to default collection and other student loan business processes.  With this certification, HS Financial is the SDVOSB with the most experience among a small but growing cohort of such firms. There are currently forty-six (46) small businesses listed at as SDVOSBs under the NAICS code for debt collection (561440).

“We are pleased to offer our experience along with this certification to any firm(s) interested in subcontracting and other opportunities,” stated disabled veteran owner Tim Sullivan, Esq., continuing, “We have the capacity to expand greatly to assist any firm with small business and SDVSOB spending goals in a fully compliant manner that maximizes results.”

To be eligible to be a SDVOSB, the following criteria must be met.

  • The Service Disabled Veteran (SDV) must have a service-connected disability as determined by the VA or Department of Defense (DoD).
  • The business must be small under its primary NAICS code.
  • One or more SDVs must hold the highest officer position, must unconditionally own 51% of the business, and must control its management, long-term decision making, and daily operations.
  • SDV ownership must be direct ownership.

HS Financial is a member of the Fed Cetera Network, a business development organization under 48 CFR 52.219-9.  “The small business market in Federal contracting is changing generally as is the SDVOSB market specifically,” stated Nick Bernardo, co-operator of the organization.  “We are pleased to offer Federal buyers and contractors the best options for small business utilization and SDVSOBs specifically, particularly one as experienced and well respected as HS Financial.”

About HS Financial

HS Financial Group, LLC, is a Service Disabled Veteran-Owned Small Business founded in 2000 by Timothy M. Sullivan, Esq., and is located in Cleveland, Ohio. HS Financial Group focuses on consumer, government, education, and commercial collections and currently has over a billion dollars of receivables under management. The organization employs an extensive staff including collection professionals, attorneys, and support personnel united by a singular mission of partnering with clients in the management and liquidation of their delinquent receivables. With its knowledgeable and seasoned team of empowered professionals, utilizing state-of-the-art infrastructure and technology, HS Financial Group strives to develop custom-tailored, secure and efficient collection solutions for each client and deliver professional recovery results achieved through its core values of professionalism, ethics, and excellence. To learn more about HS Financial Group and its Accounts Receivable Management program and capabilities, please visit our website at

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