What are Size Standards? How does SBA determine my size standard?
Size Standards are numerical measures that a registrant must meet in order to qualify as a small business. SBA usually establishes size standards by the number of employees or receipts for most industries based on the North American Industry Classification System (NAICS). However, for Petroleum Refiners, NAICS Code 324110, SBA established two measures that must be met, 125,000 barrels per calendar day capacity AND 1500 employees. In addition, SBA does not use receipts or employees as a measure of size for the following industries and NAICS codes: – Electric Utilities: Codes 221111, 221112, 221113, 221119, 221121, 221122. The size standard for these industries is 4 million megawatt hours total output for preceding year. – Finance Institutions: Codes 522110, 522120, 522130, 522190, 522210, and 522293. The size standard for these institutions is $165 million in assets.
