Lore Systems has been awarded HUBZone certification by the Small Business Administration for its work in creating jobs in communities considered historically underutilized business zones, according to a company statement.
“We are excited and prepared for new growth as a HUBZone certified company,“ said Tien Wong, company chairman and CEO.
“We are very grateful for the outstanding support that the SBA is providing to small businesses as well as their work to strengthen our economy. We look forward to working with the SBA to continue growing our business in the Washington D.C. area.“
The SBA’s HUBZone program gives contracting preferences to companies that in part employ staff living in urban and rural communities or areas picked by the SBA.
Lore System’s principal office is located in a HUBZone area which is another requirement for certification.
The program is a result of provisions contained in the Small Business Reauthorization Act of 1997.