More dealers will become eligible for SBA loans

Author:
Updated:
Original:

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.

Related

ABYC to Publish Largest-Ever Standards Manual

The nonprofit is offering pre-orders until June 18 of its updated standards manual, with a publication date of July 31.

Furuno, Simrad Add SiriusXM Fish Mapping Suite

The subscription-based service offers offshore anglers a suite of technology with which to locate and catch more fish.

Mercury Racing Awards Scholarships

The engine manufacturer looks to grow the next generation of skilled workers with its annual scholarship program.

Vision Marine, Hellkats to Attempt E-Boat Speed Record

A Hellkats 32-foot Widebody equipped with Vision Marine’s E-Motion powertrain will try to be the fastest electric boat in its category.

Grand Banks Operations Remain Halted

The announcement follows the Malay government order extending movement restrictions to curb the spread of Covid-19.

OneWater Marine to Acquire N.J.'s Stone Harbor Marina

The acquisition further expands OneWater’s reach in the Northeast.