SBA Finalizes Rule to Adjust Monetary Based Size Standards For Inflation
WASHINGTON – The U.S. Small Business Administration (SBA) finalized an interim final rule that adjusted monetary based small business size standards (i.e., receipts, assets, net worth and income) for inflation. The final rule was published in the Federal Register on January 25th and will be effective immediately.
On June 12, 2014, SBA published an interim final rule increasing all industry specific monetary based size standards (except for size standards for most agricultural enterprises that are set by statute) by 8.73 percent to reflect the inflation that occurred since the last adjustment for inflation in 2008. The changes became effective July 14, 2014. These changes were in addition to the recent revisions as a result of the SBA’s comprehensive size standards review mandated by the Small Business Jobs Act of 2010 (Jobs Act).
The final rule, as well as the June 12, 2014 interim final rule, can be viewed/downloaded at www.regulations.gov, identified by the following RIN number: RIN 3245-AG60.
SBA also adjusted its program specific monetary size standards with the exception of the new alternative size standard based on tangible net worth and net income that applies to SBA’s 7(a) and 504 loan programs. The new alternative standard was established under the Jobs Act and will remain in effect until the SBA establishes a permanent alternative size standard for these programs.