SBA Form 355 Information for Small Business Size Determination

SBA Form 355 Information for Small Business Size Determination

What Is SBA Form 355?

SBA Form 355, Application for Small Business Size Determination is a form used by small business owners to request an assessment of the size of their business done by the Small Business Administration (SBA) . Businesses must meet certain size criteria to receive SBA financing.

The SBA determines the size of the business based on the number of employees, the industry's average annual receipts, the business's total income and the cost of goods sold.

The form was released by the SBA on July 1, 2022 , with all previous editions obsolete. A printable version of the latest SBA Form 355 is available for download below. Business owners can consult SBA-released size standards before filling out the SBA 355 to determine whether the business is qualified for financing based on its size.

SBA Form 480, Size Status Declaration is a related form used for declaring the size of a business to identify if it is eligible to receive SBA financing. SBA 480 Form is used only in connection with the SBIC program, while SBA Form 355 can be used with any other SBA loan.

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SBA Form 355 Instructions

  1. Part I of the SBA 355 requires information about the small business applying for the evaluation. The required information includes the name of the applicant business, the location of the business, its contact information, the type of SBA loan the business is applying for and the date the business was established.
  2. Part II is for the number of employees working for the applicant business.
  3. Part III requires the ending date of the business's fiscal year and the total sales or receipts for the three most recent fiscal years.
  4. Part IV should contain information about any affiliate businesses, both domestic and foreign - if applicable. To find out if a business counts as an affiliate, the business owner can consult the SBA's affiliation guide for standards. If the affiliated business is a corporation, a copy of its articles of incorporation and by-laws should be attached to the SBA 355 Form.
  5. Part VI contains 15 questions about the alleged or acknowledged affiliates and the small business. Questions 15 through 22 must be completed only if the applicant business is contesting an alleged affiliation. Questions 23 through 29 are filled out only if the business is rallying for a size determination pertaining to a procurement program.
  6. When the form is filled out, the applicant should read over the certification, sign and date the form. The form should be submitted to the SBA Office of Government Contracting or Office of Disaster Assistance.

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