[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 1555 Reported in Senate (RS)]
<DOC>
Calendar No. 130
119th CONGRESS
1st Session
S. 1555
To increase loan limits for loans made to small manufacturers, and for
other purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
May 1, 2025
Ms. Ernst (for herself, Mr. Coons, Mr. Young, and Mr. Hickenlooper)
introduced the following bill; which was read twice and referred to the
Committee on Small Business and Entrepreneurship
July 29, 2025
Reported by Ms. Ernst, with an amendment
[Strike out all after the enacting clause and insert the part printed
in italic]
_______________________________________________________________________
A BILL
To increase loan limits for loans made to small manufacturers, and for
other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
<DELETED>SECTION 1. SHORT TITLE.</DELETED>
<DELETED> This Act may be cited as the ``Made in America
Manufacturing Finance Act of 2025''.</DELETED>
<DELETED>SEC. 2. DEFINITIONS.</DELETED>
<DELETED> Section 3 of the Small Business Act (15 U.S.C. 632) is
amended by adding at the end the following:</DELETED>
<DELETED> ``(gg) Small Manufacturer.--The term `small manufacturer'
means a small business concern--</DELETED>
<DELETED> ``(1) the primary business of which is classified
in sector 31, 32, or 33 of the North American Industrial
Classification System; and</DELETED>
<DELETED> ``(2) all of the production facilities of which
are located in the United States.''.</DELETED>
<DELETED>SEC. 3. SMALL BUSINESS ACT LOAN LIMITS FOR SMALL
MANUFACTURERS.</DELETED>
<DELETED> Section 7(a) of the Small Business Act (15 U.S.C. 636(a))
is amended--</DELETED>
<DELETED> (1) in paragraph (3)--</DELETED>
<DELETED> (A) in subparagraph (A)--</DELETED>
<DELETED> (i) by inserting ``except as
provided in subparagraph (B),'' before ``if the
total'';</DELETED>
<DELETED> (ii) by striking ``would exceed
$3,750,000'' and inserting the following:
``would exceed--</DELETED>
<DELETED> ``(i) $3,750,000'';</DELETED>
<DELETED> (iii) in clause (i), as so
designated, by striking ``, except as provided
in subparagraph (B);'' and inserting ``; or'';
and</DELETED>
<DELETED> (iv) by adding at the end the
following:</DELETED>
<DELETED> ``(ii) in the case of a borrower
that is a small manufacturer, $7,500,000 (or if
the gross loan amount would exceed
$10,000,000);''; and</DELETED>
<DELETED> (B) in subparagraph (B)--</DELETED>
<DELETED> (i) by striking ``would exceed
$4,500,000'' and inserting the following:
``would exceed--</DELETED>
<DELETED> ``(i) $4,500,000'';</DELETED>
<DELETED> (ii) in clause (i), as so
designated, by striking ``section 7(a)(14) for
export purposes; and'' and inserting
``paragraph (14) for export purposes; or'';
and</DELETED>
<DELETED> (iii) by adding at the end the
following:</DELETED>
<DELETED> ``(ii) in the case of a borrower
that is a small manufacturer, $9,000,000 (or if
the gross loan amount would exceed
$10,000,000), of which not more than $8,000,000
may be used for working capital, supplies, or
financings under paragraph (14) for export
purposes; and''; and</DELETED>
<DELETED> (2) in paragraph (14)(B)(i), by striking ``than
$5,000,000.'' and inserting the following: ``than--</DELETED>
<DELETED> ``(I) except as provided
in subclause (II), $5,000,000;
or</DELETED>
<DELETED> ``(II) in the case of a
loan made to a small manufacturer,
$10,000,000.''.</DELETED>
<DELETED>SEC. 4. SMALL BUSINESS INVESTMENT ACT OF 1958 LOAN LIMITS FOR
SMALL MANUFACTURERS.</DELETED>
<DELETED> Section 502(2)(A)(iii) of the Small Business Investment
Act (15 U.S.C. 696(2)(A)(iii)) is amended by striking ``$5,500,000''
and inserting ``$10,000,000''.</DELETED>
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Made in America Manufacturing
Finance Act of 2025''.
SEC. 2. DEFINITIONS.
Section 3 of the Small Business Act (15 U.S.C. 632) is amended by
adding at the end the following:
``(gg) Small Manufacturer.--In this Act, the term `small
manufacturer' means a small business concern--
``(1) the primary business of which is classified in sector
31, 32, or 33 of the North American Industrial Classification
System; and
``(2) all of the production facilities of which are located
in the United States.''.
SEC. 3. SMALL BUSINESS ACT LOAN LIMITS FOR SMALL MANUFACTURERS.
Section 7(a) of the Small Business Act (15 U.S.C. 636(a)) is
amended--
(1) in paragraph (3)--
(A) in subparagraph (A)--
(i) by inserting ``except as provided in
subparagraph (B),'' before ``if the total'';
(ii) by striking ``would exceed
$3,750,000'' and inserting the following:
``would exceed--
``(i) $3,750,000'';
(iii) in clause (i), as so designated, by
striking ``, except as provided in subparagraph
(B);'' and inserting ``; or''; and
(iv) by adding at the end the following:
``(ii) in the case of a borrower that is a
small manufacturer, $7,500,000 (or if the gross
loan amount would exceed $10,000,000);''; and
(B) in subparagraph (B)--
(i) by striking ``would exceed $4,500,000''
and inserting the following: ``would exceed--
``(i) $4,500,000'';
(ii) in clause (i), as so designated, by
striking ``section 7(a)(14) for export
purposes; and'' and inserting ``paragraph (14)
for export purposes; or''; and
(iii) by adding at the end the following:
``(ii) in the case of a borrower that is a
small manufacturer, $9,000,000 (or if the gross
loan amount would exceed $10,000,000), of which
not more than $8,000,000 may be used for
working capital, supplies, or financings under
paragraph (14) for export purposes; and''; and
(2) in paragraph (14)(B)(i), by striking ``than
$5,000,000.'' and inserting the following: ``than--
``(I) except as provided in
subclause (II), $5,000,000; or
``(II) in the case of a loan made
to a small manufacturer,
$10,000,000.''.
SEC. 4. SMALL BUSINESS INVESTMENT ACT OF 1958 LOAN LIMITS FOR SMALL
MANUFACTURERS.
Section 502(2)(A)(iii) of the Small Business Investment Act (15
U.S.C. 696(2)(A)(iii)) is amended by striking ``$5,500,000'' and
inserting ``$10,000,000''.
SEC. 5. INSPECTOR GENERAL ANALYSIS.
Not later than 2 years after the date of enactment of this Act, the
Inspector General of the Small Business Administration shall--
(1) conduct an analysis on the cohort of loans made under
the amendments made by sections 3 and 4 of this Act during the
1-year period beginning on such date of enactment to
determine--
(A) the projected default rate;
(B) the early default rate; and
(C) whether the loan limit increases under the
amendments made by sections 3 and 4 introduce
additional risk, such as increased default amounts,
larger guaranty purchase amounts, or other potential
impacts to the requirement that the loan programs under
section 7(a) of the Small Business Act (15 U.S.C.
636(a)) and title V of the Small Business Investment
Act of 1958 (15 U.S.C. 695 et seq.) operate at no cost
to the Government; and
(2) submit to the Committee on Small Business and
Entrepreneurship of the Senate and the Committee on Small
Business of the House of Representatives a report regarding the
analysis under paragraph (1).
SEC. 6. JOB CREATION AND RETENTION REPORT.
(a) Definitions.--In this section--
(1) the term ``Administrator'' means the Administrator of
the Small Business Administration;
(2) the term ``larger loan'' means--
(A) a loan made or guaranteed under section 7(a) of
the Small Business Act (15 U.S.C. 636(a)) for which--
(i) the total amount outstanding and
committed to the borrower from the business
loan and investment fund established by the
Small Business Act (15 U.S.C. 631 et seq.) is
more than $3,750,000; or
(ii) the gross loan amount is more than
$5,000,000; or
(B) a loan made under section 502(2)(A)(iii) of the
Small Business Investment Act of 1958 (15 U.S.C.
696(2)(A)(iii)) for which the gross loan amount is more
than $5,500,000; and
(3) the term ``small manufacturer'' has the meaning given
that term in subsection (gg) of section 3 of the Small Business
Act (15 U.S.C. 632), as added by section 2 of this Act.
(b) Annual Reports.--With respect to the year during which this Act
is enacted, and each of the next 4 years, the Administrator shall
submit to the Committee on Small Business and Entrepreneurship of the
Senate and the Committee on Small Business of the House of
Representatives a report regarding larger loans to small manufacturers,
broken out by whether the loan was made under section 7(a) of the Small
Business Act (15 U.S.C. 636(a)) or section 502(2)(A)(iii) of the Small
Business Investment Act of 1958 (15 U.S.C. 696(2)(A)(iii)), which shall
include--
(1) the quotient obtained by dividing--
(A) the total dollar amount of larger loans awarded
to small manufacturers during the applicable year; by
(B) the number of jobs that were created or
retained by a small manufacturer during the applicable
year as a result of the receipt of a larger loan; and
(2) an analysis of whether the award of larger loans to
small manufacturers prevented the loss of jobs by employees of
small manufacturers.
Calendar No. 130
119th CONGRESS
1st Session
S. 1555
_______________________________________________________________________
A BILL
To increase loan limits for loans made to small manufacturers, and for
other purposes.
_______________________________________________________________________
July 29, 2025
Reported with an amendment