📅 2026 Update: Recent Changes Impacting Small Businesses

Since the original article was published, several important updates have taken place that affect small businesses. These changes include new rules and fee structures that could impact financing and employment classifications. The earlier article continues below this section.

🏦 SBA Loan Fee Waivers

The U.S. Small Business Administration (SBA) announced on September 18, 2025, that it would waive most upfront fees for small manufacturers during fiscal year 2026. This waiver is effective from October 1, 2025, through September 30, 2026.

For small manufacturers under NAICS codes 31-33, this means potential savings when securing necessary loans, helping to support growth and innovation in this sector.

👷 DOL's New Independent Contractor Rule

On March 3, 2026, the U.S. Department of Labor (DOL) proposed a new rule aimed at clarifying how employers should classify workers. This rule is significant as it focuses on economic dependence, evaluating factors like control over work and profit potential.

Businesses may need to reassess their worker classifications to comply with this new guidance, which could affect payroll and benefits.

📊 Extension for Small Business Lending Compliance

The Consumer Financial Protection Bureau (CFPB) has extended the compliance date for the Section 1071 Small Business Lending Rule to July 2026. This rule requires financial institutions to collect and report data on credit applications from small businesses, aiming to promote transparency. Small business owners should stay informed about how this may influence their access to funding.

⏱️ Processing Times for Excise Tax Forms

The IRS has reported delays in processing paper excise tax forms, including Forms 720, 2290, and 8849. For quicker processing, the IRS recommends filing these forms electronically. Small business owners should consider this option to avoid potential delays in receiving necessary approvals or refunds.

📌 Key Points Summary

  • 🏦 SBA waives loan fees for small manufacturers in fiscal year 2026.
  • 👷 New DOL rule proposed to clarify worker classifications.
  • 📊 CFPB extends compliance date for small business lending rule to July 2026.
  • ⏱️ IRS urges electronic filing for faster processing of excise tax forms.
  • 🔍 Stay updated on these changes to better manage your small business.

💡 Tips for Small Businesses in Review the details of your situation with your attorney to ensure compliance with current laws and regulations.

🏦 Understand SBA Fee Waivers

If you’re a small manufacturer, take advantage of the SBA's waiver of upfront fees for loans in fiscal year 2026. This can reduce your borrowing costs and make it easier to invest in your business.

👷 Reassess Worker Classifications

With the new DOL rule on independent contractors, it’s essential to evaluate your workforce. Ensure that you classify workers correctly to avoid penalties and ensure compliance with labor laws.

📊 Prepare for Section 1071 Compliance

Financial institutions must comply with the extended Section 1071 rule by July 2026. Small business owners should be aware that lenders will be collecting more data, which may impact loan processes.

⏱️ File Taxes Electronically

To avoid delays, file your excise tax forms electronically. This method is faster and can help you receive your refunds or approvals more quickly.

➕ Take Advantage of SBA Resources

Utilize the SBA Lender Match portal to find lenders who can provide funding for your business. This resource connects you with potential funding sources at competitive rates.

🏆 Small Business Services Ranked by User Reviews (2026)

This section highlights services that can support small businesses, particularly in financing and equipment needs. The rankings are based on Trustpilot data from October 2026. Star ratings reflect user experiences, but they are just one factor to consider, as unhappy customers often leave more reviews.

🥇 1. Amur Equipment Finance

Amur Equipment Finance has been rated 5.0 out of 5. It is known for providing equipment financing and various financial services tailored to small businesses. Many reviewers highlight its efficient service and knowledgeable staff.

However, some customers mention experiencing slow response times, which may affect the overall experience.

🆓 Free Government Assistance

Utilize resources like the SBA Lender Match portal to connect with lenders. This free service helps small businesses find funding options that suit their needs. Additionally, the IRS offers resources such as Publication 583 to assist with starting a business and understanding federal tax responsibilities.

🔎 Considerations for Choosing Financial Services

  • 💰 Compare interest rates and fees.
  • 📝 Look for user reviews and ratings to gauge satisfaction.
  • 🔍 Assess the range of services offered.
  • ⏳ Review processing times for applications and approvals.
  • 🤝 Evaluate customer service responsiveness.

❓ Frequently Asked Questions

❓ What are the benefits of the SBA loan fee waivers?

The SBA's waivers for loan fees can significantly lower borrowing costs for small manufacturers, making it easier for them to access capital for growth and expansion.

📅 When must financial institutions comply with the Section 1071 rule?

Financial institutions must comply with the Section 1071 Small Business Lending Rule by July 2026, requiring them to collect and report data on small business credit applications.

⚖️ What are the implications of the new independent contractor rule?

The DOL's proposed rule on independent contractors may change how businesses classify their workers, focusing on factors like economic dependence. Misclassification could lead to legal complications.

📊 How can I ensure my business taxes are processed quickly?

To expedite processing times for taxes, the IRS recommends filing excise tax forms electronically. This method is generally faster than submitting paper forms.

🏦 What resources does the SBA provide for small businesses?

The SBA offers various resources, including the Lender Match portal, which connects small businesses with lenders, and informational publications to help navigate starting and running a business.

💡 How do I prepare for changes in business regulations?

Stay informed about new regulations and compliance deadlines. Engaging with industry associations or attending workshops can help you keep up with changes affecting your business.

⚖️ Recent Court Cases Related to Small Businesses

Recent court rulings have addressed various issues impacting small businesses, from employment classifications to financial regulations. These cases provide important context and insight into how laws are applied in real-world scenarios.

For more detailed updates, you can browse more rulings on the news page.

End of October 2026 Update





A small business is a privately owned and operated business model. Typically, small businesses operate with a small number of employees and a relatively low volume of income, profit, and sales. Small businesses are held separate form larger companies because they are normally privately owned.

Although even massive corporations can be privately owned, a small business is typically operated in full by a few employees. A small business is legally established as either a corporation, a partnership, or a sole proprietorship.

In the United States, small businesses, their legality concerns, and their overall framework is established and supervised by the Small Business Administration (SBA). The Small Business Administration is a Government program that aims to provide resources and aid to small businesses and entrepreneurs throughout the country. Small businesses have been a staple in American culture. The United States Constitution created a free market where individuals were encouraged to innovate the market and offer their skills to progress society.

Small Business At A Glance

In addition to the aforementioned services, the Small Business Administration also established business size standards, on an industry-by-industry basis, for the proper classification of all small businesses. Although these classifications are based on industry, in general the Small Business Administration categorizes a small business as having fewer than 500 employees (primarily used for manufacturing businesses) and less than $7  million in annual receipts for all other industries. In addition to the number of employees and annual receipts, other methods used to determine or classify a small business are: amount of annual sales or turnover, value of all assets, and net profit (the balance sheet).