August 20, 2019—The U.S. Small Business Administration issued a new rule that will adjust monetary-based small business size standards to allow more small businesses to be eligible for the SBA’s loan and contracting programs, reports The Register-Herald.
The official release says the SBA is adjusting its industry-specific monetary-based size standards by nearly 8.4 percent to reflect the inflation that has occurred since the last adjustment for inflation in 2014.
The SBA estimates that nearly 90,000 additional businesses will gain small business status under the adjusted size standards, becoming eligible for an SBA loan and contracting programs.
The release also said this change could possibly lead to as much as $750 million in additional federal contracts awarded to small businesses and up to 120 additional small business loans, totaling nearly $65 million.
