Ever been burned by finance companies, I know I have. So often as small minority owned businesses we do not get the best rates, offers or just out right get taken advantage of because of what we don't know. Thanks to our new partner, Encore Funding we are now bringing you a trusted source for government contract financing. With more than $500M in funding going to minorities alone in 2024 Encore is here to support your business. Visit encoregov.com for information on how to apply.

On this episode of the Govcon Giants podcast, I sat down with Meghan Leemon, a partner at PilieroMazza and a trusted expert in government contracting law, to break down one of the most important SBA updates we've seen in years. The final rule—effective January 2025—loosens the grip on investor control in 8(a) companies, allowing for expanded minority ownership rights. Meghan walks us through how investors can now have defined veto rights, what qualifies as "extraordinary circumstances," and how this shift opens up real opportunities for outside capital while keeping the qualifying owner in the driver's seat.

We also get into the weeds on ownership limits, NAICS code restrictions, and how existing or potential 8(a) firms should approach these changes strategically. Meghan clarifies the nuance around owning multiple 8(a) businesses and what kind of due diligence is needed if your company is in a similar line of business. Plus, we touch on the constitutional challenges to the program post-Ultima and what you need to know to stay compliant while taking full advantage of the new rules. Tune in to hear how this affects your investments, partnerships, and business growth inside the federal contracting space.