1. A. Mandatory Reporting. By letter, or on forms which may be identified or prescribed by the SEBD Program, certified businesses shall continue to report every five years and at times specified by the SEBD Program their financial position and attainment of the business' performance goals. Failure to report or failure to report on a timely basis, as required every five years or as otherwise requested by the SEBD Program staff, shall result in the business’ termination of its SEBD certification and from the program.
2. B. Verification of Eligibility. SEBD Program staff, may take any reasonable means at any time to confirm a certified firm's eligibility, such as by letter, telephone, contact with other governmental agencies, persons, companies, suppliers, or by either announced or unannounced site inspection.
3. C. Notification of Changes. To continue participation, a certified firm shall provide the SEBD Program, with a written statement of any changes in an address, telephone number, ownership, control, financial status, or major changes in the nature of the operation. Failure to do so may be grounds for termination of eligibility.
4. D. Evaluation. The SEBD Program staff, as necessary, shall evaluate the information to determine progress, areas for further improvement, resources needed by the firm, and eligibility for continued participation in the program.

Authority Note

AUTHORITY NOTE: Promulgated in accordance with R.S. 51:942.

Historical Note

HISTORICAL NOTE: Promulgated by the Department of Economic Development, Office of the Secretary, Division of Economically Disadvantaged Business Development, LR 23:52 (January 1997), LR 26:1572 (August 2000), amended by the Department of Economic Development, Office of Business Development, LR 29:544 (April 2003), LR 30:755 (April 2004), amended by Louisiana Economic Development, Office of Economic Development, LR 51:1865 (November 2025).