SBA proposes changes to expand small business eligibility for Federal Contracting and Loan Programs
Updated: May 9, 2022
The proposed changes seek to modify the eligibility rules for small businesses in nine industry sectors.
The U.S. Small Business Administration (SBA) is seeking public comments on a proposed rule that would revise the employee-based small business size standards for businesses in nine North American Industrial Classification System (NAICS) sectors. The proposed changes would increase small business eligibility for SBA’s federal contracting and loan programs.
The proposed changes in nine sectors, including manufacturing and transportation, will enable more mid-sized businesses to regain small business status and allow current small businesses to retain small business status for a longer period, thereby allowing them to benefit from SBA’s procurement and loan programs. These proposed revisions come on the heels of an SBA announcement earlier this month in which the agency issued four final rules to modify revenues-based small business size standards in 16 (NAICS) sectors to help increase small business eligibility for SBA’s federal contracting and loan programs.
The proposed rule change is part of the second five-year review of size standards, as required under the Small Business Jobs Act of 2010. SBA proposes to increase 150 employee-based size standards in nine sectors.
To learn more: https://www.sba.gov/article/2022/apr/26/sba-proposes-changes-expand-small-business-eligibility-manufacturing-federal-contracting-loan