One of the latest revisions to SOP 50 10 7.1 is Procedural Notice 5000-855070 regarding size standards for SBA 7(a) and 504 loans. Those updates include the following:

• Companies must operate as a for-profit company in the United States or its possessions
• Companies must have a tangible net worth of less than $20 million (up from $15 million)
• Companies must have an average net income of less than $6.5 million (up from $5 million) after federal income taxes for the two years preceding your application

This is a positive ad welcome update for small business owners. This revisions will allow more mid-size small businesses to obtain an SBA loan to accomplish their business goals and continue growth within their community.

More information may always be found at www.SBA.gov