Bank Statement for WOSB Certification
Women-Owned Small Business (WOSB) certification opens access to federal set-aside contracts, requiring proof that a woman or women own at least 51 percent of the business and control its financial and management decisions. Bank statements help verify capital contributions and that the business bank accounts reflect genuine female ownership and control. Here is what to prepare.
Key Benefits
- Documents capital contributions matching the ownership percentage claimed
- Supports evidence of financial control over business bank accounts
- Shows signing authority consistent with the ownership and management structure
- Provides records for the SBA's periodic eligibility examination
How It Works
- Step 1: Gather bank statements showing capital contributions from the owner(s) at business formation
- Step 2: Convert them to Excel with Bank Statement Converter to document the contribution history clearly
- Step 3: Confirm the woman owner(s) have signing authority on the business accounts
- Step 4: Submit through the SBA's certify.sba.gov WOSB certification application
Frequently Asked Questions
- What ownership percentage does WOSB certification require?
- At least 51 percent of the business must be owned and controlled by one or more women who are US citizens, documented through formation records and financial contributions.
- Is WOSB certification the same as EDWOSB?
- No — Economically Disadvantaged WOSB (EDWOSB) adds additional net worth and income limits on top of the standard WOSB ownership and control requirements.
- Why do bank statements matter for WOSB certification?
- They help demonstrate that the certifying owner genuinely controls the business finances, not just holds a nominal ownership stake while someone else manages the money.
- Can self-certification still be used for WOSB set-asides?
- The SBA has moved toward requiring formal certification (through an approved third party or SBA directly) rather than self-certification for most WOSB set-aside contracts — verify current requirements before bidding.
Convert Your WOSB Certification Statements