119-s1555

[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