TAAC Federal Funding Assistance Process
The Process: 3 Phases of Qualification.
Qualification for Federal funding through the TAAF program is a 3-Phase process. As an applicant, TAAC will work closely with you, providing guidance through each phase for optimum success:
Phase 1: QUALIFY
TAAC assists your company — at NO COST— with applying for qualification. We review your company history, analyze qualification levels, and prepare and submit a “petition” that is reviewed by the EDA for Certification to participate in the TAAF program. The timeframe for an EDA decision is typically 40 days from the date the petition is submitted.
Phase 2: PLAN
With Certification received, TAAC professionals visit your company to conduct a thorough audit and to identify your firm’s strengths and weaknesses. We then work with you to create a formal Adjustment Plan (AP) — a customized strategy designed to help your business grow and prosper through mission-critical projects.
Proposed projects can include (but are not limited to) marketing, export assistance, manufacturing certification, product development, plant layout, employee incentives, cost systems, the preparation of business plans, and financial restructuring. The completed formal Adjustment Plan is then submitted to the Department of Commerce for funding approval. Approval of the AP is within 60 days of the AP submission to EDA. Costs for completing Phase 2 are shared between your and TAAC, with TAAC paying 75% and your firm paying just 25%.
Phase 3: IMPLEMENT
With your Adjustment Plan approved, NYSTAC then helps you find and manage resources while helping to fund customized, business-boosting projects.
- TAAC pays 75% of funding totaling up to $30,000
- TAAC pays 50% of funding totaling over $30,000 up to $150,000
We’ll also assist in writing and issuing RFPs to TAAC-approved, private-sector consultants in order to secure quotes and service options that best fit project needs and budget at no cost to the client firm. If requested, we can also recommend consultants from our extensive database of service professionals with proven-effective expertise.
Finally, we take care of the writing, contracting and paperwork processing on your behalf, and also monitor project implementation along the way to help ensure the program — and your firm — achieve success!