This bill updates the Small Business Administration's 504 loan program, which helps small businesses finance major fixed assets like real estate and equipment through certified development companies. It adds new policy goals for the program, including incentives for businesses that provide workforce training and support for expanding very small businesses with 10 or fewer employees or recovering from recent disasters. The bill also streamlines loan closing procedures by letting accredited lenders make minor corrections and adjustments without extra bureaucratic delay, shifts some oversight duties to the SBA's Office of Credit Risk Management, and requires the SBA to launch a marketing and outreach plan within one year to raise awareness of these loans. It updates leasing rules for properties financed through the program, giving small manufacturers more flexibility to lease out portions of new facilities while still requiring significant owner-occupancy, and exempts certain SBA loans, including those to certified development companies, from the standard "credit elsewhere" requirement that normally limits aid to businesses unable to get financing elsewhere. Overall, the legislation aims to modernize the 504 loan program, reduce red tape, and make it easier for small manufacturers and very small businesses to access affordable capital.