The vision of the BB&T Supplier Diversity Program is to be the best of the best.
At BB&T, our commitment to Supplier Diversity permeates our organization, right up to the office of Kelly S. King, our Chairman and CEO. We provide opportunities for certified diverse suppliers to participate in the vendor selection process, we track and monitor spend among our diverse supplier base, and we support the community through participation in diverse supplier events at the local, regional and national levels. In addition, BB&T Corporation and its subsidiaries and affiliates encourage inclusion of diverse vendors in sourcing events and procurement opportunities, wherever feasible.
The BB&T Supplier Diversity Program (SDP) reinforces our commitment to promote vendor diversity. Our SDP standards describe the components and the stakeholder responsibilities that must be performed to achieve this. They outline the expectations for engaging diverse vendors to compete for products and services purchased throughout BB&T Corporation, the process for qualifying certified diverse vendors, and for reporting SDP activities.
Our commitment to Supplier Diversity
Read our Chairman and CEO's statement on what Supplier Diversity means to BB&T, and how it is critical to our success in everything we do.
Kelly King on the BB&T Commitment to Supplier Diversity
Our mission at BB&T is to create the best financial institution possible—the best of the best. Our suppliers play an important role in helping us get there.
It is critically important at BB&T that we leverage our buying power and include certified diverse suppliers within the supply chain to create mutually beneficial relationships. That is why we are committed to providing an environment that encourages diverse suppliers to participate.
We provide opportunities to diverse suppliers because we recognize when a business grows in our community, we grow. BB&T is committed to Supplier Diversity, its value, and the long-term success of our company and the communities we serve.
Kelly S. King
Chairman and CEO
Supplier Diversity classifications defined
See the most current classifications of diverse vendors to determine your potential eligibility.
8(a) certified small business
A business that is at least fifty-one percent owned and controlled by one or more socially and economically disadvantaged United States citizens, has demonstrated the potential for success, and meets applicable size standards for small businesses in their industry. Business owners receiving this certification must pass a “good character” test. Firms certified under 8(a) are privileged to certain non-competitive bids not open to other small businesses and to particular low-interest loan programs.
Historically underutilized business zone small business (HUBZone)
A United States Small Business Administration (SBA) program for small companies that operates and employs people in Historically Underutilized Business Zones (HUBZones). To qualify, the firm must be a small business based on the North American Industry Classification System (NAICS), at least fifty-one percent owned and controlled by United States citizens, have the principal office located in a HUBZone, and have thirty-five percent of the firms total workforce reside in a HUBZone. These businesses receive federal-contracting preferences.
Lesbian, gay, bisexual, transgender (LGBT)
A business enterprise that is at least fifty-one percent owned by a lesbian, gay, bisexual, or transgender person or persons, or, in the case of any publicly owned business, at least fifty-one percent of the stock of which is owned by one or more lesbian, gay, bisexual, or transgender persons, and whose management and daily business operations are controlled by one or more of those individuals.
A business that is at least fifty-one percent owned, operated, and controlled by one or more members of one or more minority groups, to include: Subcontinent Asian American/Asian Indian, Asian-Pacific American, Black/African-American, Hispanic American, Native American. Management and daily business functions are operated and controlled by one or more such individuals who are United States citizens or are permanent resident aliens. The business must be a for-profit enterprise which physically resides in the United States or one of its territories.
- Subcontinent Asian/Asian-Indian – A US citizen whose origins are from India, Pakistan, and Bangladesh.
- Asian-Pacific – A US citizen whose origins are from Japan, China, Indonesia, Malaysia, Taiwan, Korea, Vietnam, Laos, Cambodia, the Philippines, Thailand, Samoa, Guam, the US Trust Territories of the Pacific, or the Northern Marianas.
- Black – A US citizen having origins in any of the Black racial groups of Africa.
- Hispanic – A US citizen of true-born Hispanic heritage, from any of the Spanish-speaking areas of the following regions: Mexico, Central America, South America, and the Caribbean Basin only. Brazilians shall be listed under Hispanic designation for review and certification purposes.
- Native American – A person who is an American Indian, Eskimo, Aleut, or Native Hawaiian, and regarded as such by the community of which the person claims to be a part. Native American must be documented members of a North American tribe, bank, or otherwise organized group of native people who are indigenous to the continental United States and proof can be provided through a Native American Blood Degree Certificate (i.e., tribal registry letter, tribal roll registration number).
Service disabled veteran-owned small business (SDVOSB)
A business that is at least fifty-one percent owned and managed by one or more qualified disabled veterans whose disability is service related.
An independently owned and operated enterprise that is not dominant in its field of operation and has qualified for small business status under criteria; number of employees, average annual receipts, and size standards established by the United States government (13 CFR 121).
Small disadvantaged business (SDB) or disadvantaged business enterprises (DBE)
A small business that is at least fifty-one percent owned by one or more individuals who are both socially and economically disadvantaged. SDB or DBE status makes a company eligible for bidding and contracting benefit programs involved with federal procurement.
A business that is at least fifty-one percent owned and managed by one or more qualified veterans.
A business that is at least fifty-one percent owned by one or more women and the management and daily business operations of which are controlled by one or more women. The two groups in this category are noted below; however, BB&T Corporation combines them for reporting purposes.
- Women-owned small business (WOSB) – A small business concern that is at least fifty-one percent directly and unconditionally owned and controlled by one or more women who are citizens (born or naturalized) of the United States.
- Economically disadvantaged women-owned small business (EDWOSB) – A small business concern that is at least fifty-one percent directly and unconditionally owned and controlled by one or more women who are citizens (born or naturalized) of the United States and who are economically disadvantaged.
Certification and community engagement
Learn how to become certified as a diverse vendor, and how BB&T actively engages a wide community of suppliers.
How to become certified
A certified diverse vendor must demonstrate certain nationally and statewide standardized criteria and hold a valid certificate from a third-party certifying agency. Certifying agencies may include, but are not limited to, the agencies listed in the table below.
In addition, BB&T accepts the following certification for third-party Non-Vendor Payees (NVP):
- Third-party certifying agencies
Third-party certification agencies—contact information
|Association for Service Disabled Veterans (ASDV)||www.asdv.org(opens in a new tab)||202-669-1982|
|National Gay Lesbian Chamber of Commerce (NGLCC)||https://nglcc.org(opens in a new tab)||202-234-9181|
|National Minority Supplier Development Council (NMSDC)||www.nmsdc.org(opens in a new tab)||212-944-2430|
|Small Business Administration 8(a) Program||www.sba.gov(opens in a new tab)||212-264-4354|
|United States Hispanic Chamber of Commerce (USHCC)||www.ushcc.com(opens in a new tab)||202-842-1212|
|VA Office of Small and Disadvantaged Business Utilization||www.va.gov/osdbu/verification(opens in a new tab)||866-584-2344|
|Women's Business Enterprise National Council (WBENC)||www.wbenc.org(opens in a new tab)||202-872-5515|
Tier II process
Tier II is used to further promote and include diverse suppliers in the sourcing process when direct spend is not an option. BB&T encourages Tier I prime suppliers to use certified Tier II subcontractors.
BB&T has participated in various conferences and events dedicated to support and promote Supplier Diversity including:
- Carolinas Minority Supplier Development Councils, Inc. – Business Opportunity Conference (An affiliate of the NMSDC)
- Institute for Supply Management, Inc. (ISM) – International Supply Management Conference
- National Minority Supplier Development Councils, Inc. (NMSDC) – Business Opportunity Conference
- North Carolina Minority and Women Business Enterprise Coordinators' Network Conference – Business Opportunity Conference
- The North Carolina Institute of Minority Economic Development – Executive Networking Conference
- Virginia Minority Supplier Development Councils, Inc. – Virginia Business Opportunity Fair
- Women's Business Enterprise National Council, Inc. (WBENC) – Carolinas Forum
Frequently asked questions
Learn more about the BB&T Supplier Diversity Program.
How does registration with ASN benefit BB&T?
- Registration with the Ariba Supplier Network (ASN) provides BB&T with a pool of current and potential suppliers for possible bid opportunities.
- The online process provides a method for us to keep track of signed contracts, as well as those about to expire.
- BB&T is able to track and monitor the performance of our suppliers.
- BB&T is able to identify and track businesses certified as diverse.
- BB&T is able to identify and track prime suppliers' indirect spend with diverse suppliers online.
- The registration process is an enterprise-wide directive from senior management.
How does registration with ASN benefit your company?
- Registering with the Ariba Supplier Network (ASN) provides an opportunity to grow your business by becoming a part of a global collaboration network. ASN has over 200,000 participating companies transacting over $110 billion in goods and services with more than 31 million orders and invoices annually.
- Your company will benefit from a systematic performance matrix approach when tracking and monitoring your company's performance.
- You can update your company information at any time.
We have done business with BB&T for many years. Do we still need to register with ASN as a new supplier?
Yes, we encourage all suppliers to register.
Why do we need a logon name and password?
A logon name and password are necessary to access the registration site where you will enter your company's information. Once you sign on as a new supplier, the system will generate a password for you.
Will any legal terms of my company's contract with BB&T change as a result of registration?
No, registration with ASN will not change any of the contract terms already in place.
What is the next step for a certified diverse firm?
Use the online registration link(opens in a new tab) to register your company with ASN. If you are selected to participate in a competitive bid, you will be required to complete a BB&T Supplier Questionnaire (in addition to your registration on the Ariba Supplier Network and enablement in the Ariba e-Procurement System).
Is certification a requirement for participating in the Supplier Diversity Program?
Yes, certification is required for participation in the Supplier Diversity Program. You may still participate in our procurement process without certification, but you will not be considered a diverse supplier.
What are the benefits of obtaining certification?
- Certification provides opportunities to prospective companies.
- Many major corporations require certification if a supplier is interested in their Supplier Diversity Program.
- Suppliers gain information on organizations promoting Supplier Diversity. The federal government has programs supporting minority business enterprises.
- Your company will join a growing segment of certified minority business enterprises.
Branch Banking and Trust Company is a Member FDIC and an Equal Housing Lender.
Branch Banking and Trust Company is now Truist Bank. Learn more.
BB&T and SunTrust have merged to become Truist. Both institutions will continue to offer independent product lines for a period of time. This may include differing underwriting guidelines, product features, terms, fees and pricing. Our friendly teammates at your local SunTrust branches will be happy to walk you through their respective products. You can also learn more by contacting them at 800-SUNTRUST or SunTrust.com.