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SBA issues rule finalizing increase to monetary size standards to account for inflation since 2008

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The U.S. Small Business Administration (SBA) has finalized a rule that increases all monetary-based small business size standards by 8.73 percent to account for inflation since the last adjustment in 2008. This adjustment affects standards related to receipts, assets, net worth, and net income across various industries. Additionally, program-based size standards were adjusted for inflation, except for the newly established alternative size standard for SBA’s 7(a) and 504 loan programs, which remains temporarily in effect until a permanent standard is set. The rule also removes outdated references related to Surety Bond Guarantee size standards and Economic Injury Disaster Loan eligibility tied to the 2005 hurricanes. Furthermore, clarifications were made regarding the application of a footnote related to lessors of real estate, expanding its scope beyond a single industry code. Effective July 14, 2014, these changes may impact the size status of businesses participating in federal procurement programs, either as prime contractors or subcontractors. Businesses affected by the new size standards are advised to update their profiles and certifications in the System for Award Management (SAM) to ensure compliance. For inquiries or assistance, Carl J. Jordan at the SBA can be contacted via email or phone. The finalized rule, along with the original interim rule and submitted comments, are available on the Regulations.gov website for review.

General Info

SBA raised small business size standards 8.73% for inflation; affects loans, procurement compliance.

Agency

N/A

NAICS

926110 - Administration of General Economic Programs

Place of Performance

Not specified

Set-Aside

NONE

Documents

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Timeline

PostedJan 27

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Organization & Contact Information

AgencyN/A

Contacts1 person available

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Organization / Agency

N/A

Office AddressN/A

Contacts

Carl J Jordan

contact@example.gov

+1 (555) 000-0000

Full Description

The U.S. Small Business Administration (SBA) has finalized without change its June 12, 2014 interim final rule that adjusted monetary small business size standards for inflation. Specifically, the rule * Increased by 8.73 percent all monetary based industry size standards (i.e., receipts, assets, net worth, and net income) for inflation that has occurred since the last adjustment in 2008. These adjustments were in addition to revisions that were part of the comprehensive size standards review, as mandated by the Small Business Jobs Act of 2010 (Jobs Act). * Adjusted for inflation program based size standards, with the exception of the new alternative size standard for SBA's 7(a) and 504 loan programs that was established under the Jobs Act. The new alternative size standard will remain in effect until SBA establishes a permanent alternative size standard for the 7(a) and 504 loan programs. * Deleted references to Surety Bond Guarantee size standards for contracts awarded in the Presidentially declared disaster areas following Hurricanes Katrina, Rita, and Wilma in 2005. * Deleted the determination date for eligibility under the Agency's Economic Injury Disaster Loan (EIDL) Program in connection with Hurricanes Katrina, Rita, and Wilma. * Clarified that footnote 9 to its table of size standards is not limited to NAICS 531190, but rather applies to all industries in Industry Group 5311, Lessors of Real Estate. You may read/download the rule at Regulations.gov (search on "RIN 3245 AG60" [without quotes]). You may also review there the original interim final rule together with all of the comments submitted. The proposed rule and the comments are included in the same docket. The changes were effective July 14, 2014. Important: If you participate in federal government procurement programs, either as a prime contractor or as a subcontractor, your size status may have changed on July 14, 2014 as a result of the interim final rule, which this rule finalizes without change. You must visit the System for Award Management (SAM) and verify that your profile and certifications are up to date based on these revised size standards.

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