ED Subcontractor Certified as a Federal HUBZone Business

Posted on November 7, 2014 Under News

Credit Adjustments, Inc. (CAI), a nationally operated accounts receivable management firm, has announced it has received certification from the U.S. Small Business Administration (SBA) as a Federal HUBZone business.

According to the SBA website, “the Historically Underutilized Business Zones (HUBZone) program helps small businesses in urban and rural communities gain preferential access to Federal procurement opportunities. These preferences go to small businesses that obtain HUBZone certification in part by employing staff who live in a HUBZone. The company must also maintain a ‘principal office’ in one of these specially designated areas.” CAI’s corporate headquarters is and has remained in rural Defiance, Ohio, since 1955.

The U.S. Department of Education (ED) disclosed in a public meeting with Private Collection Agencies last month that, for Fiscal Year 2011, it achieved only 5.3% of its annual HUBZone contracting goal, or 0.16% utilization against a goal of 3%. During the same meeting, ED disclosed that its projected utilization of HUBZone businesses for Fiscal Year 2012 was even lower.

This announcement is a continuation of the company’s activities to continue growing in its core markets. Other key announcements in the past few years you can read about at www.credit-adjustments.com have included:

  • July 3, 2012: ED Subcontractor Receives FISMA Certification
  • April 24, 2012: Former ED Collections Group Washington Director to CAI
  • February 28, 2012: CAI Expands to Second ED Subcontract, Fourth Location
  • October 13, 2011: CAI Adds Student Loan Depth via NCC Acquisition
  • January 12, 2011: SBA Loan Poises CAI for Aggressive Growth in 2011
  • October 1, 2009: CAI Starts Work as U.S. ED Subcontractor

CAI President Dexter A. Smith stated, “Our company is pleased to have completed this certification process. Although our participation in ED’s collection contract over the years has been based on merit, CAI is proud to assist ED with the attainment of their stated goals in such an important socioeconomic category by increasing the utilization of qualified HUBZone businesses.”

Michael Osborne, Chairman and CEO, added, “This certification as a Federal HUBZone increases employment opportunities for career-seeking individuals while giving a boost to our local economy. CAI is an ever-evolving business and, as the company expands, so do our opportunities for employment in providing quality jobs in Northwest Ohio.”

CAI is a leading provider of collection solutions for healthcare, educational, and consumer organizations nationally.