For those who didn’t see it, SBA recently put out guidance on how the 8(a) program term extension will work. The guidance provides some nice examples of how the process will play out.
The guidance has some straightforward scenarios for how SBA will process the 8(a) term extension. Remember, there is still time until March 15 to provide comments on SBA’s 8(a) term extension rule. Here are some of the highlights.
Who is Eligible?
- Firms that were in the 8(a) Program between March 13, 2020, and September 9, 2020, can get an extension.
- Firms that terminated, early graduated, or voluntarily withdrew are not eligible.
- Firms admitted on or after September 10, 2020, are ineligible.
- Active 8(a) firms participating on January 13, 2021, will receive an automatic one-year program extension unless they decline in writing.
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