This bill increases loan limits for small manufacturing companies that keep all their production in the United States. Small manufacturers would be able to borrow up to $10 million through Small Business Administration loan programs, compared to the current limit of $5 million for most businesses. The legislation defines small manufacturers as businesses primarily engaged in manufacturing (sectors 31-33 of industry classification codes) with all production facilities located in the U.S. The bill requires the SBA Inspector General to analyze the risk and default rates of these larger loans within two years of enactment, and mandates annual reports for five years tracking job creation and retention among small manufacturers receiving these enhanced loans. The legislation aims to help domestic manufacturers access more capital while ensuring the loan programs continue operating at no cost to the government.
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