M/WBE stands for a Minority or Woman-owned Business Enterprise. This New York State certification is available for companies that are at least 51% owned and operated by a minority/woman and was created to encourage these groups to operate their own businesses.
To apply, there is an online application which requires you to submit supporting documentation via scanning to your computer or fax. The application can be found at: https://esd.ny.gov/mwbe-new-certification
There are two primary benefits of obtaining M/WBE certification:
1) It provides access to greater governmental contracts at the state and local levels. In New York State, a certain percentage of municipal work (such as construction, advertising, marketing, and road work) needs to be contracted with an M/WBE certified organization. By obtaining this certification, your business has greater access to municipal contracts.
2) It provides greater access to several sources of business loans that are reserved for M/WBE’s. For more information about what is available, refer to this document.