On June 6, 2022, the U.S. Small Business Administration published a Final Rule adopting a 24-month average lookback for calculation of business size under employee-based size standards. This new 24-month lookback replaces the previous 12-month lookback, and it applies to all SBA programs. This rule also applies a 5-year lookback on receipts-based size standards for participants in Business Loan, Disaster Loan, Surety Bond, and Small Business Investment Company (“SBIC”) programs, up from a 3-year lookback, which makes the above referenced programs align with the effect that the Small Business Runway Extension Act had on the federal procurement sector.
More information on the methodology of the SBA Office of Size Standards, as well as public comment and SBA’s responses, can be found here.
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