What are a qualified HUBZone SBC's ongoing obligations to SBA?
A qualified HUBZone SBC must immediately notify SBA of any material change that could affect its eligibility. Material change includes, but is not limited to, a change in the ownership, business structure, or principal office of the concern, or a failure to meet the 35% HUBZone residency requirement (See
for certain eligibility requirements). The notification must be in writing, and must be sent or delivered to the D/HUB to comply with this requirement. Failure of a qualified HUBZone SBC to notify SBA of such a material change may result in decertification and removal from the List pursuant to § 126.504
. In addition, SBA may seek the imposition of penalties under § 126.900
. If the concern later becomes eligible for the program, it must apply for certification pursuant to §§ 126.300
[69 FR 29424, May 24, 2004]