06/21/11

SBA Looking to Increase Size Standard for Transportation and Warehousing

sba sealSBA started reviewing and updating size standards in 2007 based on industry-specific data, as the size standards hadn’t been reviewed in more than 25 years. SBA wants size standards to better reflect the current market conditions. As a result, under the Small Business Jobs Act of 2010, SBA will continue this review and change size standards for several more years, in order to ensure the size definitions reflect current economic conditions for each industry.

SBA is looking to adjust the size standard for defining small businesses in 22 industries in the transportation and warehousing sector in order to better reflect changes in the conditions of the marketplace. The proposed changes would increase the revenue-based size standard.

What do these proposed changes mean for the small business owners? These changes can be great for small business owners, as those that are close to exceeding the current size standards may be able to retain small business eligibility under the higher size standards. This means qualifying for small business financial assistance from the SBA. It is good for the federal government as well, as it allows for a larger selection of small business for procurement opportunities. If the proposed revisions are accepted, as many as 1,200 additional firms will become eligible for SBA programs.

The industries affected are:

RELATED: SBA 7a Loan

If you have a comment on this proposed rule, you can submit it before July 13,2011. It can be submitted online or via mail

Online at: www.regulations.gov
Mail to: Khem R. Sharma
Chief, Size Standards Division,
409 3rd St., SW
Mail Code 6530
Washington, DC 20416

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