SBA issues “Runway” rule

      The Small Business Administration issued a proposed rule to implement the Runway Extension Act that was passed by Congress and signed by the president in December 2018.

      While some industry members assert that the rule went into effect immediately, the SBA maintains that the rulemaking must be completed before the new rule goes into effect.

      In the proposed rule, the SBA said it would adopt a 5-year averaging period for calculating annual average receipts for all receipts-based SBA size standards for small businesses. Currently, a three-year average is used for that purpose.

      The new calculation would cover all industries with receipts-based size standards, including the retail trade, agricultural, and construction industries.

      Comments are due by Aug. 23.

      In the proposed rule, the SBA also addresses the fact that in addition to its own size standards for small businesses, some federal agencies set their own such size standards, with permission from the SBA.

      While the SBA believes that the Small Business Act allows agencies to treat receipts-based service industries and receipts-based non-service industries differently in setting their size standards, for the purpose of consistency, the proposed rule would make all receipts-based industries subject to the 5-year standard.

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