Made in America Manufacturing Finance Act

The bill would increase the ceiling on SBA loans available to small manufacturers in two programs. Under the 7(a) program — which covers working capital and general business expenses — the standard guaranteed-loan limit for small manufacturers would rise from $3,750,000 to $7,500,000, and the export-enhanced guaranteed limit would rise from $4,500,000 to $9,000,000. The cap on 7(a) export loans for small manufacturers would rise from $5,000,000 to $10,000,000. Under the 504 program — which finances major fixed assets such as buildings and equipment — the limit for small manufacturers would rise from $5,500,000 to $10,000,000.

The bill would also add a statutory definition of "small manufacturer" to the Small Business Act, requiring that the firm's primary business fall within NAICS manufacturing sectors 31, 32, or 33, and that all of its production facilities be located in the United States. The higher limits apply only to borrowers who meet this definition; other small businesses would remain subject to the existing loan ceilings.

Small businesses classified in manufacturing sectors (NAICS 31–33) whose production facilities are entirely within the United States — covering industries from textiles and food processing to fabricated metals and machinery. These firms would gain access to higher SBA loan amounts. Lenders participating in the SBA 7(a) and 504 programs would also be affected, as would certified development companies (CDCs) that originate 504 loans.

Domestic small manufacturers that need capital for expansion, equipment, or new facilities have been constrained by loan ceilings set below the cost of many industrial projects. Higher limits could allow these firms to access SBA-backed financing for projects that currently require conventional loans with less favorable terms, potentially lowering borrowing costs and encouraging investment in U.S. manufacturing capacity.

The bill works by directly amending the statutory loan ceilings in the Small Business Act and the Small Business Investment Act of 1958. No new rulemaking process is expressly mandated, but the SBA would need to update its program regulations, standard operating procedures, and lender guidance to reflect the new limits and apply the new "small manufacturer" definition. Lenders and certified development companies would use the new ceilings when underwriting qualifying loan applications. No new reporting or grant cycles are created.