To Whom it May Concern:
The Interim Alternative Size Standard adopted by the Stimulus Legislation enacted on May 5, 2009 is much simpler and more appropriate for identifying small businesses today.
For example the old size standard for retail companies was based on average annual sales of $7 Million. We have had countless requests in the past where a retailer doing well wants to expand and create more jobs but the company's sales have already surpassed the this limit. It is the successful businesses that expand and need financing. And, these are the small businesses that create most of the jobs.
We don't seem to have as much trouble with the wholesalers and manufactures where their eligibility is determined by the number of their employees. But this is unfair to the retail and service companies who need financing assistance from the SBA. Retail companies hire lots of workers, especially when they grow into companies with larger annual sales.
Lastly, it would be so much simpler and I think more equitable to apply the same size standard for all businesses. We strongly support keeping the Alternative Sized Standard in place for the 7(a) Program.
Signed: James J. Ocken, Sr. Vice President
Guaranty Bank & Trust Company
Comment on FR Doc # fr_doc_num
This is comment on Rule
Small Business Size Standards; Temporary Alternative Size Standards for 7(a) Business Loan Program
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