SBA 8(a) program
Greywood CPA prepares the annual financial statements SBA 8(a) Business Development Program participants must submit to SBA. We are a licensed CPA firm (Virginia Board of Accountancy firm license #134961) working nationwide, at a fixed fee.
The level depends on your gross annual receipts. Participants with more than $20 million must submit audited statements within 120 days after fiscal year-end. Those between $7.5 million and $20 million must submit reviewed statements within 90 days. Those under $7.5 million may submit an in-house statement or a compilation within 90 days.
Last reviewed: November 2026
| Gross annual receipts | Statement required | Due |
|---|---|---|
| More than $20,000,000 | Audited financial statements | Within 120 days after fiscal year-end |
| $7,500,000 to $20,000,000 | Reviewed financial statements | Within 90 days after fiscal year-end |
| Less than $7,500,000 | In-house annual statement or a compilation | Within 90 days after fiscal year-end |
These levels come from 13 CFR 124.602. SBA can ask for audited or reviewed statements from any participant in some situations, so read any request from your Business Opportunity Specialist carefully.
Firms under $7.5 million are allowed to submit in-house statements, but CPA-compiled statements are often worth the cost. Lenders, sureties and prime contractors you are trying to win work from usually want CPA-prepared statements anyway, and a compilation forces a clean year-end close.
A strong year can move you from the compilation tier to the review tier, or from review to audit, with a shorter deadline window and more work. If you expect to cross $7.5 million or $20 million, plan the engagement before year-end so your books are ready and the 90 or 120-day deadline isn't a surprise.
A 30-minute call about your organization, who needs the report and your deadline.
Scope, report type, timeline and one fixed fee, in writing.
Everything we need, uploaded through a secure portal.
Remote testing, then a draft for your review.
A CPA partner signs, and we walk you or your board through the results.
When gross annual receipts are more than $20 million. The audited statements are due within 120 days after the close of the fiscal year.
When gross annual receipts are between $7.5 million and $20 million. Reviewed statements are due within 90 days after fiscal year-end.
Yes. Participants with gross annual receipts under $7.5 million may submit an in-house annual statement or a CPA compilation, within 90 days after fiscal year-end.
The annual financial statement requirements for 8(a) participants are in 13 CFR 124.602.
We quote one fixed fee in writing before any work starts, based on your receipts, contracts and the level of statement required.
Tell us your fiscal year-end and receipts. A senior CPA will send a fixed-fee proposal within 1–3 business days.