SBA wants to revise size standards

WASHINGTON – The U.S. Small Business Administration is proposing increases in the size definitions for three broad commercial sectors.

The changes, if adopted, will expand eligibility to small businesses and help them gain access to SBA’s financial assistance, contracting and other programs.

The proposed increases cover size standards for 71 different types of businesses, two-thirds of them in retail trade sectors. The rest are in accommodations and food services, and other services.

“SBA has undertaken a comprehensive review of our size standards to ensure they are current and reflect changes in the economy and the marketplace,” SBA Administrator Karen Mills said. “SBA’s lending…