See our Supply Partner Diversity Policy Statement  for a message from our CEO.

Program Goals

Definitions

WOMAN-OWNED BUSINESS: Means a business which is at least 51% owned by one or more woman; or, in the case of any publicly owned business, at least 51% of the stock of which is owned by one or more women; and whose management and daily business operations are controlled by one or more women (reference FAR 2.101). Businesses must be certified by the Women's Business Enterprise National Council (WBENC) .

MINORITY-OWNED BUSINESS: Means a business which is at least 51% owned and operated by an individual(s) who are U.S. citizens and their ancestry is African-American, Subcontinent Asian-American, Native-American, Asian Pacific-American, or Hispanic-American. Business must be certified by the National Minority Supplier Development Council (NMSDC) , or one of its regional councils. Foreign-owned firms operating in the U.S. are not included in this definition.

VETERAN-OWNED BUSINESS: Means a business concern which is not less than 51% owned by one or more veterans as defined at 38 U.S.C. 101 (2) or, in the case of any publicly owned business, not less than 51% of the stock of which is owned by one or more veterans; and the management and daily business operations of which are controlled by one or more veterans (reference FAR 2.101).

SERVICE-DISABLED-VETERAN-OWNED BUSINESS: Means a business not less than 51% of which is owned by one or more service-disabled veterans or in the case of any publicly owned business, not less than 51% of the stock of which is owned by one or more service-disabled veterans, or in the case of a veteran with permanent and severe disability, the spouse or permanent caregiver of such veteran. Service-disabled veteran means a veteran, as defined in 38 U.S.C. 101 (2), with a disability that is service-connected, 38 U.S.C. 101 (6).

DISADVANTAGED BUSINESS: Means an offeror that represents, as part of its offer, that it is a small business under the size standard applicable to the acquisition; and either: it has received certification by the Small Business Administration as a Small Disadvantaged Business  concern consistent with 13 CFR part 124, subpart B, and: no material change in disadvantaged ownership and control has occurred since its certification; where the concern is owned by one or more disadvantaged individuals, the net worth of each individual upon whom the certification is based does not exceed $750,000 after taking into account the applicable exclusions set forth at 13 CFR 124.104(c)(2); and it is identified, on the date of its representation, as a certified small business concern in the Central Contractor Registration (CCR)  database.

SMALL BUSINESS ENTERPRISE: Means a concern including it's affiliates, that is independently owned and operated, not dominant in the field of operation in which it is bidding on government contracts, and qualified as a small business under the criteria and size standards in 13 CFR Part 121 (reference Federal Acquisition Regulations, part 19.102).  SBA's size standards define whether a business entity is small and, thus, eligible for Government programs and preferences reserved for “small business" concerns. Size standards have been established for types of economic activity, or industry, generally under the North American Industry Classification System ( NAICS ). Businesses should contact the Small Business Administration  to determine appropriate NAICS codes and size standard. The threshold for number of employees and revenue vary depending on the product or service.

HUBZONE SMALL BUSINESS: Means a business located in a historically underutilized business zone, which is an area located within one or more qualified census tracts, qualified non-metropolitan counties, or lands within the external boundaries of an Indian reservation. Status as a qualified HUBZone small business concern is determined by the Small Business Administration (SBA) in accordance with 13 CFR part 126. If the SBA determines that a concern is a qualified HUBZone small business concern, it will issue a certification to that effect and will add the concern to the List of Qualified HUBZone Small Business Concerns on its Internet web site at www.sba.gov/hubzone .

NAICS:   NAICS is the North American Industry Classification System. The system was developed by the U.S., Canada, and Mexico to provide comparable statistics across the three countries. NAICS enables government and business analysts to compare industrial production statistics collected and published in the three North American Free Trade Agreement countries. NAICS also provides for increased comparability with the International Standard Industrial Classification System (ISIC, Revision 3), developed and maintained by the United Nations.

US-OWNED BUSINESS ENTERPRISE: Means a subcontractor organized or existing under the laws of the United States. The United States means the 50 states and the District of Columbia, U.S. territories and possessions, Puerto Rico, the Northern Mariana Islands, and any other place subject to U.S. jurisdiction, but does not include leased bases.

Disclaimer
The links on this web site are provided for information and reference only and do not constitute endorsement by Regions Financial Corporation.  RFC has no control over these links and is not responsible for any content on these web sites.

Questions
Please see our Frequently Asked Questions (FAQs) section or Contact Us  at any time regarding our Supply Partner Diversity program.