The Chenega MIOS family of companies is grateful to announce that the House and Senate have both agreed to extend the term of 8(a) Participants from nine years to ten years for any company admitted to 8(a) Program by September 9 of this year. The Small Business Administration (SBA) would have to “ensure” that 8(a) Participants who had been admitted “on or before September 9, 2020” would be able to “elect to extend such participation by a period of one year”. With many MIOS companies currently being in the 8(a) program, this allows these companies to benefit from an extra year in the program after a less than normal year for businesses around the world.
The one year extension allows companies the opportunity to fully utilize the power of the 8(a) program even after a whirlwind of a year. This will hopefully act as an aid for Small Disadvantaged Businesses to get back on their feet.
MIOS is excited for the opportunity to extend our support to our customers and the government.
To learn more about this extension, please see: 8(a) Extension