LAURINBURG, N.C., April 21, 2020 /PRNewswire/ -- Sam M. Butler Inc. dba Service Thread is now one of the federal government's 2020 HUBZone-certified businesses. HUBZone, which stands for Historically Underutilized Business Zone, is a U.S. Small Business Administration program certifying at least 3% of all federal contracting dollars small businesses each year.
In order to qualify, Service thread followed a rigorous certification process that included proving their status as a qualified tax-paying small business, operating in a federally-designated HUBZone, hiring at least 35% of its employees from a HUBZone, and maintaining at least 51% ownership by American citizens. Service Thread is a 100% American-owned business.
HUBZone status brings numerous benefits to Service Thread and its clients. These benefits include:
- First consideration for bids on government contracts in HUBZone-designated areas
- Preferential consideration during full and open competitive bidding processes
- 10% price evaluation preference in full and open contract competitions
- Eligibility for set-aside contracts, which level the playing field for small businesses
Service Thread CEO Jay Todd shares his appreciation for the company's new HUBZone status. "Every hardworking member of the Service Thread team helped make this happen and I am incredibly grateful. This is a proud moment for us that once again proves we are one of America's most successful small businesses."
Like all HUBZone members, Service Thread will be required to re-certify its status once per year and maintain the high standards of the program. The Small Business Administration visits HUBZone business unannounced for inspections to determine ongoing program compliance. To learn more about the HUBZone program, visit the SBA's program information page.
About Service Thread
Based in Laurinburg, North Carolina, Service Thread offers American-made industrial yarns and threads for large-scale commercial manufacturing operations. The company is known for producing high volumes of high-quality materials, as well as delivering excellent customer service and tailored solutions for industrial yarn and thread processing. For more information, please contact Service Thread at (910) 277-7456 or [email protected].
SOURCE Service Thread