Starting this month, veteran business owners now have a new opportunity to fix errors in their applications for verification by the Veterans Affairs Department.

The new Pre-Determination process has launched, the VA announced on May 3.

It applies to applications for verification as veteran-owned firms eligible for VA set-aside contracts.

“This process is designed to reduce denials by identifying easily corrected issues on many applications,” the VA said in a release. “Businesses that would ordinarily be denied can now take advantage of this opportunity for approval by correcting findings prior to receiving a final determination letter.”

Under the new procedure, the VA provides preliminary findings to applicants for whom it found easily-correctable deficiencies and errors. Those applicants have a chance to correct the errors before the VA completes its final comprehensive review and determination.

The VA said its new process primarily affects firms with easily-correctable problems in the following areas: quorum; weighted voting; service as a general partner for partnership; service as a limited liability company; community property; living trust and direct ownership; highest compensation for veteran; highest officer position; and 51% unconditional ownership.

In the past, initial findings of errors and deficiencies would have resulted in a denial. Business owners may request reconsideration; however, those appeals generally take much longer to determine.

“A large percentage of verification denials are due to single points of failure that can be easily and quickly corrected,” VA Secretary Eric K. Shinseki said in a statement.

The VA said it expects fewer initial denials and fewer appeals under the new process.

For the seven months ending April 30, 68% of initial applications were approved, taking an average of 48 days, the VA states on its website. For fiscal 2012, 58% were initially approved, taking an average of 86 days.

During the same seven-month period this year, it took 121 days on average to make a decision on a request for reconsideration vs. 92 days in fiscal 2012.

More information: VA announcement: http://goo.gl/MMg0A