Operations

SBA seeks input on retail, wholesale loan eligibility

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May 26, 2021

The U.S. Small Business Administration is seeking public comments on a proposed rule that would make more retail and wholesale businesses eligible for loans, according to a press release.

The proposal revises the small business size standards for businesses in the North American Industrial Classification System.

The SBA proposes to increase size standards for 49 industries in the retail and wholesale trade sectors.

The agency estimates that about 1,800 additional firms in these two sectors would become eligible for SBA loans and other federal non-procurement programs under the proposed size standards, if adopted.

The proposed revisions reflect changes in industry conditions and SBA's policy position under the current economic situation due to the COVID-19 pandemic.

The proposed increases to the size standards in those two sectors will enable some mid-sized businesses to regain their small business status and current small businesses to retain their small business status for a longer period, thereby allowing them to benefit from SBA's loan and other non-procurement programs.

Comments can be submitted on this proposed rule on or before July 26, 2021, at www.regulations.gov, using: RIN 3245-AH10.

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