ARTICLE · 01 SEPTEMBER 2016

SBA Final Rule On Mentor-Protégé Programs For All Small Businesses Becomes Effective

Holland & Knight

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The Small Business Administration (SBA) issued a long-awaited final rule establishing a new, expanded mentor-protégé program that will allow all types of small businesses to qualify as protégés...

United StatesGovernment, Public Sector

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Joseph P. Hornyak is a partner in Holland & Knight's Northern Virginia office and Sarah Curtis is an associate in Holland & Knight's Anchorage office

HIGHLIGHTS:

The Small Business Administration (SBA) issued a long-awaited final rule establishing a new, expanded mentor-protégé program that will allow all types of small businesses to qualify as protégés, while retaining, but slightly revising, its existing mentor-protégé program for participants in the 8(a) Business Development program.
The final rule became effective on Aug. 24, 2016. The SBA has stated informally that it intends to establish a separate unit within its existing Office of Business Development with the sole function of processing mentor-protégé applications under the new program. Informally, the SBA has stated that it will begin processing these new mentor-protégé applications on Oct. 1, 2016.

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