Did some digging and I see that there are some basic standards related to qualifying for an SBA-backed loan through local banks…apparently the standard for a physician’s office to be classified as a “small business” is less than $12 million in average gross receipts over the previous three years.
As a side note, the SBA uses the same calculations for “small business” contracts with the federal government- which is why the screenshot is showing “eligible for government contracting”…at the end of the day, the standard is set the same way for contracting with the feds as well as qualifying for SBA-backed loans…
This is a distinction many larger groups will need to keep in mind as SBA-backed loans are what many banks really like, etc…SBA-secured loans offer low rates and a generous number of years to repay them, etc…
