More dealers will become eligible for SBA loans

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The Small Business Administration announced that it will permanently increase the size standards for boat, personal watercraft and RV dealers to $30 million, effective Nov. 5, the National Marine Manufacturers Association reports.

Size standards are used to determine eligibility for federal small-business assistance programs for private-sector industries. This announcement means that more dealers will qualify for SBA loans even after the recently passed alternative size standards expire.

“NMMA is pleased that SBA has recognized our industry’s request for parity in the size standards and hopes that more marine businesses will now qualify for SBA assistance,” the NMMA said.

Click here for the full announcement.

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Comments

2 comments on “More dealers will become eligible for SBA loans

  1. Paul Lippincott

    My current floor plan institution, is getting out of the marine lending business..I currently have 2 mil in inventory which needs to placed with a new institution I expect within the SBA program.  Please respond, as this change has to be made before the end of the year 2010.
    Thank you,
    Paul L.

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