Jane Edwards
The Small Business Administration is seeking public comments on a proposal to amend two methods SBA uses in determining the eligibility of companies to investment and loan programs and government contracts intended for small enterprises.
SBA said Wednesday one of the proposed changes would increase the averaging period for calculating the number of employees of a small business from 12 months to 24 months.
The proposal would also grant companies participating in Small Business Investment Company initiatives and SBA loan programs an option to choose between the averaging period of three years and the new five-year term when it comes to computing average annual revenues.
Through the planned modifications, the agency said it expects 67,650 additional companies to gain access to SBA loan programs and anticipates contracting programs to reach about 450 more businesses.
Public comments are due Dec. 2.
