Virginia Department of Small Business and Supplier Diversity

What Virginia Department of Small Business and Supplier Diversity does

The Virginia Department of Small Business and Supplier Diversity (SBSD) is a state government department of the Commonwealth of Virginia, headquartered at 600 East Broad Street, Suite 300, Richmond, with approximately 39 employees distributed across the Executive Office, Customer Service, Certification divisions, Sourcing and Compliance, Business Development and Outreach Services, and the Virginia Small Business Financing Authority (VSBFA). The department administers two primary certification programs: SWaM (Small, Women, and Minority-owned business) certification for state procurement eligibility under Executive Order No. 20, and DBE (Disadvantaged Business Enterprise) certification for federally-funded transportation projects through the Virginia Unified Certification Program with MWAA. SBSD operates four supporting technology platforms: the online Certification Portal (certification-app.sbsd.virginia.gov), the Business One Stop portal (bos.sbsd.virginia.gov), the SWaM Expenditure Dashboard for state agency procurement tracking, and the SWaM/DBE vendor directory integrated with the eVA procurement system used by 13,000+ state and local government buyers.

VSBFA, established in 1984 and operating within SBSD for more than 40 years, provides the financing arm of the department with a portfolio of direct loan programs (Microloans up to $150,000, Child Care Financing up to $250,000, Economic Development Loans, and the SSBCI 2.0 Capital Connect participation program), credit support programs (Classic Loan Guaranty, Cash Collateral, Loan to CDFIs), bond programs (Taxable and Tax-Exempt Industrial Development Bonds, 501(c)(3) Bonds), venture capital deployment through VIPC and Virginia Venture Partners (more than $175 million in SSBCI funding), and grant programs (Small Business Investment Grants, SSBCI Technical Assistance Grants). Business Development & Outreach Services delivers training, workshops, webinars, and one-on-one counseling through five regional Business Service Managers covering Hampton Roads/Eastern Shore, Central-South, Shenandoah Valley/Blue Ridge, Northern Virginia, and Southwest Virginia. Pricing is largely zero-cost for certifications; financing programs carry nominal application fees ($75-$150 for loans, $1,000 plus annual fees for bonds). The customer base spans 765,000 Virginia small businesses (99.6% of state businesses) including women-owned (45.4%) and minority-owned (nearly 40%) firms, with state agencies serving as the procurement counterparties.

Name

Virginia Department of Small Business and Supplier Diversity

Legal name

Virginia Department of Small Business and Supplier Diversity

Website

https://sbsd.virginia.gov

Company type

Private

Founded year

1984

Operating status

Operating

Short description

Virginia state government department that administers SWaM and DBE business certification programs, delivers business development and outreach services, and operates VSBFA financing programs serving small, women, and minority-owned businesses across the Commonwealth.

Ownership category

akta.pro rank

Headquarters

HQ city

Richmond

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. VSBFA Direct Loans: The Virginia Small Business Financing Authority provides direct loans to eligible businesses, including Microloans up to $150,000, Child Care Financing Program loans, and Economic Development Loans for fixed-asset financing.
2. VSBFA Credit Support Programs: Loan guaranty programs, cash collateral programs, and loans to Community Development Financial Institutions that reduce lending risk and expand access to capital for Virginia small businesses.
3. Bond Financing Programs: Industrial Development Bonds (taxable and tax-exempt) and 501(c)(3) tax-exempt bond programs for manufacturers and nonprofit organizations with associated application fees ($1,000) and annual fees (0.1% of outstanding principal, max $250,000).
4. Grant Programs: Small Business Investment Grants awarded to eligible investors who fund Virginia small businesses, and Technical Assistance Grants funded through SSBCI 2.0 for SEDI-owned businesses and very small businesses.
5. Application Fees: VSBFA charges one-time non-refundable application fees: $150 for Microloans, $125 for Child Care Centers, $75 for Family Home Care providers.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels7 records

Core offering

The Virginia Department of Small Business and Supplier Diversity administers state-level SWaM (Small, Women, and Minority-owned) certification and federally-regulated DBE (Disadvantaged Business Enterprise) certification programs that enable Virginia businesses to qualify for specialized procurement and contracting opportunities. Through its financing arm VSBFA, it provides direct loans, bond financing, credit support for lenders, venture capital, and grants to help small businesses access capital. The department also delivers business development training, webinars, workshops, and one-on-one counseling through regional Business Service Managers, while its Sourcing and Compliance division supports state agencies in meeting the 42% SWaM procurement goal.

Product overview

The Virginia Department of Small Business and Supplier Diversity (SBSD) operates a comprehensive government platform and service portfolio supporting small, women, and minority-owned businesses across Virginia. The core offerings include SWaM Certification and DBE Certification programs for business procurement eligibility, combined with the Virginia Small Business Financing Authority (VSBFA) providing loan programs (Microloan, Child Care Financing, Economic Development Loan, Capital Connect), credit support programs (Loan Guaranty, Cash Collateral, Loan to CDFIs), bond programs (Taxable/Tax-Exempt Industrial Development Bonds, 501(c)(3) Bonds), venture capital programs (Direct/Indirect VC through VIPC), and grant programs (SBIG, Technical Assistance Grants). Supporting infrastructure includes the Business One Stop portal for business registration, the Sourcing and Compliance (SAC) Division with SWaM Expenditure Dashboard for procurement compliance, Business Development and Outreach Services (BDOS) offering educational programs including Marketing Mondays, Building Transferable Businesses, Tax Smart, and SCALING4GROWTH (Streetwise MBA program). The department also publishes the Virginia Handbook for Success and Disparity Study Reports for research and planning.

Differentiator

Problem solved

Functional benefit

Products and services

• SWaM Certification (Small, Women, and Minority-owned Business) State-level certification program enabling small, women-owned, and minority-owned businesses to qualify for specialized procurement and contracting opportunities throughout the Commonwealth of Virginia. Provided at no cost to eligible applicants.
• DBE Certification (Disadvantaged Business Enterprise) Federally-regulated certification program administered under U.S. DOT regulations to increase participation of certified businesses in federally-funded transportation and infrastructure projects including roads, bridges, railroads, ports, and airports.
• Business Development and Outreach Services (BDOS)

Quantifiable outcome

• 99.6% of Virginia businesses are small businesses, employing 45.9% of the state's workforce and accounting for 84% of export revenue
• +4 more outcomes

Named customers3 records

Segments8 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature4 records

Partnerships

Ten partnerships are on record, tiered minor and core.

• Virginia Bankers AssociationminorStrategic or Co-development PartnerListed as a VSBFA partner providing financial strength and advancement support for Virginia businesses seeking financing through VSBFA programs.
• Radford UniversitycoreStrategic or Co-development PartnerPartner in the Big Opportunities, Bold Partnerships workshop series helping Virginia businesses understand how to access and compete for higher education contracting opportunities at Radford University and other Virginia colleges.
• Virginia TechcoreStrategic or Co-development PartnerPartner in the Big Opportunities, Bold Partnerships workshop series providing practical guidance on navigating eVA procurement, finding contracting opportunities, and building relationships with Virginia Tech and other university buyers.
• Sunbelt Business BrokersminorStrategic or Co-development PartnerPresenting partner for the Building Transferable Businesses webinar series, helping business owners understand ownership transition planning, business valuation, and strategies for successful transitions.
• 757 CollabminorImplementation/ SI/ Consulting PartnerSSBCI 2.0 Technical Assistance Grant provider offering legal, accounting, and financial advisory services to very small businesses and SEDI-owned businesses applying for SSBCI capital programs.
• CIC (Center for Innovative Collaboration)minorImplementation/ SI/ Consulting PartnerSSBCI 2.0 Technical Assistance Grant provider offering legal, accounting, and financial advisory services to very small businesses and SEDI-owned businesses applying for SSBCI capital programs.
• The Launch PlaceminorImplementation/ SI/ Consulting PartnerSSBCI 2.0 Technical Assistance Grant provider offering legal, accounting, and financial advisory services to very small businesses and SEDI-owned businesses applying for SSBCI capital programs.
• Virginia Small Business Development Center (Virginia SBDC)minorImplementation/ SI/ Consulting PartnerSSBCI 2.0 Technical Assistance Grant provider offering legal, accounting, and financial advisory services to very small businesses and SEDI-owned businesses applying for SSBCI capital programs.
• Metropolitan Washington Airports Authority (MWAA)coreStrategic or Co-development PartnerPartner in the Virginia Unified Certification Program for DBE certification. Either agency can certify DBEs, and certification by either is fully accepted throughout Virginia for federally-assisted transportation projects.
• Virginia Department of Veteran ServicesminorStrategic or Co-development PartnerCoordinates with SBSD for Service-Disabled Veteran designation in the SWaM vendor database. Veterans must first obtain eligibility certification from DVS before obtaining SDV status in the SWaM database.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• U.S. Small Business Administration (SBA): The federal counterpart to SBSD, providing nationwide small business support through loan programs, certification (8(a), HUBZone, women-owned), and contracting assistance. Operates at a national scale with overlapping mission areas in small business certification and capital access, but is a federal agency rather than a state department.
• CDFI Fund (U.S. Department of the Treasury): Federal fund that administers SSBCI and certifies Community Development Financial Institutions. Directly comparable to VSBFA's role as the Virginia conduit for SSBCI funding and credit support programs, but operates at federal scale.

Direct peers

• National Minority Supplier Development Council (NMSDC): Private national certifier of minority-owned businesses for corporate supplier diversity. Directly comparable to SBSD's minority business certification function but operates nationally with corporate (not government) buyers and charges certification fees.
• Women's Business Enterprise National Council (WBENC): National certifier of women-owned businesses, providing WBE certification accepted by corporate and government buyers. Directly comparable to SBSD's SWaM women-owned certification but operates at national scale and as a private nonprofit.
• Maryland Department of Commerce: Maryland's state-level economic development agency providing small business support, financing programs, and minority business enterprise (MBE) certification. Most structurally similar state-level peer, operating in an adjacent jurisdiction with comparable programmatic scope.

Others

• National Association of State Development Agencies (NASDA): Membership organization representing state economic development agencies. Provides the peer network and best-practice benchmarking that SBSD participates in; useful as an ecosystem peer rather than a direct operational competitor.
• America's SBDC: National network of Small Business Development Centers providing no-cost business consulting and training. Virginia SBDC is a documented SBSD partner for SSBCI 2.0 Technical Assistance Grants; the national network is a complementary (not competing) small business support ecosystem.
• SCORE Association: National nonprofit providing free small business mentoring and education funded in part by SBA. Operates in the same small business development and training space as SBSD's BDOS division, but as a volunteer-driven mentoring organization rather than a state agency.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights5 records

Customer concentration

• YouTubeyoutube.com/@virginiasmallbusiness
• Facebookfacebook.com/VirginiaSBSD
• LinkedInlinkedin.com/company/virginia-department-of-small-business-and-supplier-diversity
• Instagraminstagram.com/VirginiaSBSD

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Virginia Department of Small Business and Supplier Diversity