SBA adjusts small business size standards

An additional 8,400 businesses will become eligible for the Small Business Administration’s (SBA’s) financial and federal government procurement assistance programs, following the issuance of an interim final rule by the SBA. Small business size standards (based on receipts, assets, net worth and income) will be adjusted for the first time since 2008 for inflation. These changes, effective July 14, 2014, could lead to more than $150 million in additional federal contracts awarded to small businesses and 80 additional loans totaling about $30 million.