Bill > S2662

This bill, known as the "504 Modernization and Small Manufacturer Enhancement Act of 2025," aims to improve the Small Business Investment Act's loan guaranty program and enhance capital access for small manufacturers. The bill introduces several key changes, including expanding the policy goals of the Development Company Program to include workforce development, minority and employee-owned business development, energy efficiency, and support for businesses with 10 or fewer employees. It increases the loan amount for manufacturing loans from $5.5 million to $10 million and provides more flexible loan closing procedures for accredited lender certified companies, such as allowing reallocation of project costs, adding guarantors, and correcting loan details. The bill also introduces special provisions for small manufacturers, including reduced contribution requirements, less stringent collateral requirements, and more generous debt refinancing options. Additionally, it mandates that Small Business Administration district offices partner with resource partners to provide training and assistance to small manufacturing businesses, and modifies leasing rules for new facilities and existing buildings to give small businesses more flexibility in using their properties. These changes are designed to make it easier for small manufacturers to access capital, develop their workforce, and grow their businesses.

Business and Industry

https://www.congress.gov/bill/119th-congress/senate-bill/2662/all-info