The Made in America Manufacturing Finance Act increases the amount of money small manufacturers can borrow to help them grow and compete. This is important because it provides more financial resources to businesses that create jobs and products in the U.S.
Made in America Manufacturing Finance Act This bill increases the maximum loan amounts available to small manufacturers under the Small Business Administration's 7(a) and 504 loan programs. In particular, the bill generally doubles the maximum loan amount for small manufacturers under the 7(a) program and the bill increases the maximum loan amount for small manufacturers under the 504 program from $5.5 million to $10 million. Generally, 7(a) loans provide short- and long-term working capital which can be used for expenses such as operational needs. 504 loans provide financing for major fixed assets such as new facilities.
