BUFFALO, N.Y. -- Secured Resolutions announced today it has achieved Historically Underutilized Business Zone (HUBZone) certification through the U.S. Small Business Administration (SBA). The HUBZone program helps small businesses in urban and rural communities gain preferential access to Federal procurement opportunities. The program was enacted into law as part of the Small Business Reauthorization Act of 1997.
Secured Resolutions is now one of twenty-nine (29) HUBZone-certified small businesses listed at www.sam.gov under the NAICS code for debt collection (561440) with the capacity to collect Federal student loans and act as a contact center to communicate with borrowers.
The largest single Federal client for companies capable of servicing and collecting defaulted student loans remains The U.S. Department of Education (ED) and its prime contractors. Founded in 2012, Secured Resolutions has the ability to serve ED and its vendors, attributing its success in the industry to delivering excellent customer service and helping clients maintain positive and productive relationships with their clients.
Managing Director Laura Hirsch said both herself and Lisa True, company co-director, “were fortunate to begin our careers in small companies, which provided growth opportunities for us. We are where we are today as a result. We want to give back, and our HUBZone certification will help us do that by providing opportunities for Secured Resolutions, which creates jobs in Western New York." Lisa True added, "We were very deliberate when we chose our office location. We are situated between Buffalo and Niagara Falls. We want to give the residents of both areas not just jobs, but an opportunity to grow their careers as we have.”
Secured Resolutions is a member of the Fed Cetera Network, a business development organization under 48 CFR 52.219-9. In addition to its recent HUBZone certification, the company is a certified woman-owned small business (WOSB), a program through the SBA which allows companies to compete for Federal contracts amongst other benefits.
Federal HUBZones are designated as such based on U.S. census data when an area has statistically proven economic needs, typically within depressed urban or rural communities. The U.S. Small Business Administration (SBA) certifies firms as HUBZone small businesses if they meet all of the eligibility requirements. For starters, the firm must be owned at least 51% by American citizens, with few exceptions. The firm’s principal office must be located with a HUBzone, and more than 35% of the firm’s employees must live in a HUBZone. These requirements are just the beginning of establishing a business as a HUBZone-certified concern.