[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 1555 Introduced in Senate (IS)]
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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 and Mr. Coons) introduced the following bill;
which was read twice and referred to the Committee on Small Business
and Entrepreneurship
_______________________________________________________________________
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,
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.--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''.
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