WOSB operating agreement
For an LLC, the Operating Agreement is one of the most important documents for showing ownership, voting rights, management authority, and control. Before you submit, review it for provisions that could conflict with your WOSB application.
WOSB eligibility depends on more than ownership percentage. The governing documents can also show who manages the company, who can make key decisions, how voting works, and whether another owner can override the qualifying woman owner.
Check ownership percentages, member names, manager or managing-member roles, voting thresholds, consent requirements, transfer restrictions, deadlock provisions, and any clauses that give another person approval or veto authority.
If the Operating Agreement has been amended, include the current amendments and verify that the latest ownership and control terms are consistent with the application and the rest of the document package.
Unsigned or outdated governing documents can create review issues. Confirm that the current Operating Agreement and applicable amendments are properly executed and dated.
The guidance on this page is grounded in current SBA WOSB materials. Always follow the latest official instructions for your application.
FAQ
SBA's WOSB checklist identifies the Operating Agreement and amendments among the key LLC documents applicants may need to provide. The exact document package depends on the firm's circumstances.
Ownership percentages, voting rights, management authority, approval requirements, veto rights, and other control provisions can all matter because WOSB requirements address both ownership and control.
Include applicable amendments, especially when they change ownership, voting, management, or control terms.
Run a free preflight for missing items, inconsistencies, signatures, dates, ownership, and control issues.
Run Free Document Preflight