SBA Expands Eligibility For Construction, Arts Firms

Law360, New York (July 18, 2012, 1:33 PM EDT) -- The U.S. Small Business Association on Wednesday announced it is expanding the number of construction and arts and entertainment contractors eligible to be classified as small businesses as part of the agency's first large-scale update of its standards in almost 30 years.

A pair of proposed rules published in Wednesday's Federal Register increase the maximum annual revenue to allow contractors in the fields of construction and arts and entertainment to qualify for federal small business assistance programs, including federal loan guarantees.

The new standards will open...
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