Congress looks to boost manufacturing via doubled SBA loans

A bipartisan group in Congress is looking to boost U.S. manufacturing with federal loans. H.R. 3174, the Made in America Manufacturing Finance Act, would let small manufacturers take loans from the Small Business Administration of up to $10 million, twice the amount of the existing limit. Based on Small Business Administration guidelines, the loans will be available to manufacturers with 500 or fewer employees, or semiconductor manufacturers and aircraft manufacturers with up to 1,500 people.

The bill, introduced to the Small Business Committee by Rep. Roger Williams of Texas, is co-sponsored by a group of twelve bipartisan co-sponsors and passed the House after a unanimous vote. Its Senate equivalent, S. 1555, was introduced to the Senate’s Committee on Small Business and Entrepreneurship in September by Sen. Joni Ernst (R-IA) and cosponsored by Senators Coons (D-DE), Young (R-IN) and Hickenlooper (D-CO).

In May, when the bill was introduced to the House Committee, the Small Business Administration said that manufacturing loans are up by 74% under the current administration compared to the first three months under President Biden.

What people are saying

“President Trump has built a strong foundation for the comeback of American industry by delivering historic tax cuts, deregulation, fair trade, and nearly $20 trillion in investment to support Made in America,” said SBA Administrator Kelly Loeffler. “Today, U.S. manufacturers – of which 98% are small businesses – require more capital to meet rising demand in an economy that is now being built by Americans, for Americans. With the bipartisan House passage of the Made in America Manufacturing Finance Act, manufacturers are one step closer to unlocking the capital they need to bring home American jobs and industry. The SBA is grateful to Chairman Williams for sponsoring this legislation and looks forward to its favorable consideration as it advances to the Senate.” 

“I want to thank Administrator Loeffler and my colleagues in the House and Senate for their collaboration on this critical legislation supporting America’s small manufacturers,” said Small Business Committee Chairman Williams. “The Made in America Manufacturing Finance Act strengthens the ability of small manufacturers to invest, scale, and compete. These entrepreneurs are the backbone of our industrial base, and their success fuels our nation. With this legislation, we continue to advance an America First agenda that ensures Main Street remains the driving force in American innovation.”

Investing in American manufacturing in 2025 

This map shows where manufacturers are choosing to invest their resources, whether they are building new production facilities or expanding existing plants.