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.
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Update: SBA Issues 8(a) Program Term Extension Rule
SBA has issued its rule allowing for an extension of 8(a) program terms by one year, as directed by Congress. The rule will be effective immediately on January 13 (barring some publication delay). Read on for the key terms from the new rule.
Continue reading8(a) Participants to Receive One-Year Extension Through COVID-19 Bill
Update: The Consolidated Appropriations Act, 2021 was passed on December 27, 2020. The NDAA was passed on January 1, 2021.
Congress has included in the new COVID-19 relief bill a one-year extension of the term for participation in the 8(a) Program. Under the provision, any small business concern participating in the 8(a) program on or before September 9, 2020 may “elect to extend such participation by a period of 1 year”. This is good news, especially for those concerns in their last year of viability in the 8(a) program who may have felt shortchanged from COVID’s effects on the economy.
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