The power of diversity and inclusion
Fannie Mae is committed to diversity in our supplier base, as evidenced by the millions of dollars we directly award to diverse suppliers annually.
Diverse suppliers must be documented by self-certification (PDF) or third-party agency certification.
Diverse suppliers must provide proof of diversity status in their supplier profile within our supplier management system, ProcureOne. Upload your completed certification within your ProcureOne supplier profile in the credentials tab, under “add diversity credentials." Additional instructions can be found in this guide.
Below, please find more information for:
For Fannie Mae, a Minority-owned business is defined as greater than 50% owned, operated and controlled by an individual or individuals that are members of the racial/ethnic groups listed below:
- African American or Black
- Asian/Pacific Islander
- Subcontinent Asian
- Native American
You can certify your business’ minority ownership status through the National Minority Supplier Development Council's network of regional affiliates or by using the Self Certification form available through our procurement system when you complete your company registration as a new supplier.
Women-Owned Business (as defined by the Housing Economic Recovery Act of 2008, "HERA") includes financial institutions, mortgage banking firms, investment banking firms, investment consultants or advisors, financial services entities, asset management entities, underwriters, accountants, brokers, brokers-dealers, and providers of legal services. It means a business in which:
- One or more women hold more than 50 percent of the ownership or control.
- More than 50 percent of the net profit or loss accrues to one or more women.
- Women hold a significant percentage of senior management positions.
Disabled-owned business (as defined by the Housing Economic Recovery Act of 2008, "HERA") includes financial institutions, mortgage banking firms, investment banking firms, investment consultants or advisors, financial services entities, asset management entities, underwriters, accountants, brokers, brokers-dealers, and providers of legal services. It means a business is qualified as a Service-Disabled Veteran-Owned Small Business Concern as defined in 13 CFR 125.8 through 125.13, or a business in which:
- One or more persons with a disability hold more than 50 percent of the ownership or control.
- And more than 50 percent of the net profit or loss accrues to one or more persons with a disability.
To certify Disabled-Owned Business Status, contact Disability:IN.
Veteran-owned business: The term "small business concern owned and controlled by veterans" refers to a small business concern:
- Not less than 51 percent of which is owned by one or more veterans or, in the case of any publicly owned business, not less than 51 percent of the stock of which is owned by one or more veterans.
- And the management and daily business operations of which are controlled by one or more veterans.
The term veteran was taken from section 101(2) of title 38, U.S. Code.
Note: The definition above was taken from the United States Department of Veterans Affairs and is subject to change. For the most current definition and to certify for this business status, please reference their website.
Small business: A small business is one that is independently owned and operated and which is not dominant in its field of operation. The law also states that in determining what constitutes a small business, the definition will vary from industry to industry to reflect industry differences accurately. The U.S. Small Business Administration (SBA)'s Small Business Size Regulations implement the Small Business Act's mandate to SBA. SBA has also established a table of size standards, matched to the North American Industry Classification System (NAICS) industries.
8(a) business: The term 8(a) refers to a business that is at least 51 percent owned by U.S. citizens who are found to be socially and economically disadvantaged, and the business must be managed and controlled by disadvantaged individuals. For the 8(a) Disadvantaged Business program, the business must also demonstrate potential for success and the business itself and its principals and owners must demonstrate good character.
HUBZone business: The HUBZone Empowerment Contracting Program stimulates economic development and creates jobs in urban and rural communities by providing federal contracting preferences to small businesses. These preferences go to small businesses that obtain HUBZone (Historically Underutilized Business Zone) 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. The program resulted from provisions contained in the Small Business Reauthorization Act of 1997.
Note: The definitions above are from the U.S. Small Business Administration and are subject to change. For the most current definition and to certify as Small Business, 8(a) or HUBZone status, please reference their website.
Historically black colleges and universities and minority institutes: This term refers to any historically black college or university that was established prior to 1964, whose principal mission was, and is, the education of African Americans. And that is accredited by a nationally recognized accrediting agency or association determined by the Secretary of Education to be a reliable authority as to the quality of training offered, or that is, according to such an agency or association, making reasonable progress toward accreditation. HBCUs offer all students, regardless of race, an opportunity to develop their skills and talents. These institutions train young people who go on to serve domestically and internationally in their professions as entrepreneurs and in the public and private sectors.
Note: The definition above is from the U.S. Department of Education and is subject to change. For the most current definition and to certify for this business status, please reference their website.
Gay-, lesbian-, bisexual-, and transgender-owned business: The following are required for certification as a GLBT. Your business must:
- Not be less than 51 percent owned, operated, managed, and controlled by a GLBT person or persons who are either U.S. citizens or lawful permanent residents.
- Exercise independence from any non-GLBT business enterprise.
- Have its principle place of business (headquarters) in the United States.
- Have been formed as a legal entity in the United States.
Note: The definition above is from the National Gay and Lesbian Chamber of Commerce and is subject to change. For the most current definition and to certify for this business status, please reference their website.
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