More dealers will become eligible for SBA loansPosted on
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.