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S. 1555 would increase loan limits available to small manufacturers through Small Business Administration lending programs. Specifically, the bill would raise loan limits under the Small Business Act from $3.75 million to $7.5 million for certain loans and from $4.5 million to $9 million for other types of loans. It would also increase loan limits under the Small Business Investment Act from $5.5 million to $10 million for small manufacturers. The bill defines small manufacturers as businesses primarily engaged in manufacturing with all production facilities located in the United States.
The bill includes accountability measures requiring the SBA's Inspector General to analyze the performance of these larger loans and mandating annual reports to Congress on job creation and retention resulting from the increased loan limits. The Congressional Budget Office estimates implementation costs would be minimal, less than $500,000 over five years. The bill has passed committee review and is eligible for a floor vote in the Senate.
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Committee on Small Business and Entrepreneurship. Hearings held.
May 14, 2025
Committee on Small Business and Entrepreneurship. Hearings held.
May 21, 2025
May 21, 2025 · 14:00
The Senate Committee on Small Business and Entrepreneurship held a hearing on May 21, 2025, to examine three bills aimed at supporting small manufacturers and businesses. S.305, the Small Business Technological Act of 2025, would authorize small business loans to finance access to modern business software and cloud computing services. S.1555, the Made in America Manufacturing Finance Act of 2025, would increase loan limits for small manufacturers under the Small Business Administration's lending programs, raising maximum loan amounts from $3.75 million to $7.5 million for certain loans and from $4.5 million to $9 million for others. S.1593, the Small Business Liberation Act, would exempt small businesses from duties imposed pursuant to the national emergency declared on April 2, 2025, relating to tariffs. The hearing examined legislation with bipartisan support designed to address different challenges facing small businesses. S.305 aims to help small businesses adopt digital tools and technology for operations, payroll processing, and accounting. S.1555 targets small manufacturers specifically, defined as businesses primarily operating in manufacturing sectors with all production facilities in the United States, and includes reporting requirements for job creation and retention. S.1593 addresses tariff impacts on small businesses, with supporters arguing that tariffs pose an existential threat to small business operations. The hearing allowed the committee to gather information on these proposals before deciding whether to advance them. No witnesses were listed for this hearing. The committee's consideration of these bills does not guarantee they will advance to a vote or become law.
Committee on Small Business and Entrepreneurship. Ordered to be reported with an amendment in the nature of a substitute favorably.
Jul 16, 2025
Jul 16, 2025 · 18:30
On July 16, 2025, the Senate Committee on Small Business and Entrepreneurship held a business meeting to consider four pieces of legislation aimed at supporting small businesses. The bills examined were S.1555 (Made in America Manufacturing Finance Act), which increases loan limits for small manufacturers; S.1199 (SBA Fraud Enforcement Extension Act), which extends the statute of limitations for fraud prosecutions in pandemic relief programs; S.2232 (Expanding the Surety Bond Program Act), which increases contract limits for the SBA's surety bond guarantee program; and S.1703 (Rural Small Business Resilience Act), which requires the SBA to improve outreach and access to disaster assistance in rural areas. No witnesses testified at this business meeting, as it was a committee markup session rather than a hearing. The committee considered and advanced these bills for further Senate action. S.1555 would raise loan limits for small manufacturers under the Small Business Act from $3.75 million to $7.5 million for certain loans and from $4.5 million to $9 million for others, while also increasing limits under the Small Business Investment Act from $5.5 million to $10 million. S.1199 would extend the statute of limitations from five to ten years for fraud prosecutions related to pandemic relief programs including the Paycheck Protection Program, Economic Injury Disaster Loans, and Restaurant Revitalization Fund. S.2232 would increase the surety bond program contract limit to $20 million. S.1703 would require the SBA to conduct targeted outreach and provide marketing materials to rural communities affected by disasters. The committee's approval of these bills does not guarantee their passage in the full Senate. Each bill must still be debated and voted on by the entire chamber before advancing further in the legislative process.
Committee on Small Business and Entrepreneurship. Reported by Senator Ernst with an amendment in the nature of a substitute. Without written report.
Jul 29, 2025
Committee on Small Business and Entrepreneurship. Reported by Senator Ernst with an amendment in the nature of a substitute. Without written report.
Jul 29, 2025
Committee on Small Business and Entrepreneurship. Hearings held.
Sep 17, 2025
Sep 17, 2025 · 18:30
The Senate Committee on Small Business and Entrepreneurship held a hearing on September 17, 2025, to examine legislation aimed at strengthening the Small Business Administration's 504 loan program for small manufacturers. The hearing focused on three bills: S. 2662 (504 Modernization and Small Manufacturer Enhancement Act), S. 2659 (504 Credit Risk Management Improvement Act), and S. 1555 (Made in America Manufacturing Finance Act). Committee Chair Joni Ernst (R-Iowa) led the hearing, emphasizing the committee's ongoing work to revitalize American manufacturing and address the sector's decline. The primary legislation examined, S. 2662, would modernize the 504 loan program by expanding policy goals to include workforce development, minority and employee-owned business development, and energy efficiency. The bill increases loan limits for manufacturing loans from $5.5 million to $10 million and provides more flexible loan closing procedures. S. 1555, the Made in America Manufacturing Finance Act, would double the 504 loan limit from $5 million to $10 million for small manufacturers seeking to modernize, grow, and train workers. S. 2659 would enhance oversight and accountability of the 504 program through improved credit risk management. Chair Ernst noted that small manufacturers have been constrained by current loan limits, with many forced to slow growth or seek less favorable outside financing. The hearing included testimony from certified development company lenders and program participants who shared perspectives on how the 504 program could be improved. The 504 program provides long-term, fixed-rate financing for major assets and has maintained a low default rate of under one percent annually. A hearing does not guarantee that legislation will advance; the bills must still be considered by the full committee and Senate.
Committee on Small Business and Entrepreneurship. Hearings held.
Jan 14, 2026
Jan 14, 2026 · 19:30
On January 15, 2026, the Senate Committee on Small Business and Entrepreneurship held a hearing titled 'Growing the Small Business Agricultural Economy' at 428A Russell Senate Office Building to examine legislation supporting small agricultural and manufacturing businesses. The hearing focused on three bills: S. 2100 (Modernizing Agricultural and Manufacturing Bonds Act), S. 3471 (EFFECTIVE Food Procurement Act), and S. 1555 (Made in America Manufacturing Finance Act of 2025). S. 2100 proposes to modernize federal rules for agricultural and manufacturing bonds by expanding the definition of manufacturing facilities to include high-tech production and increasing bond size limits from $10 million to $30 million. The bill also modifies financing rules for first-time farmers. S. 3471 aims to reform USDA food purchasing practices to increase support for small-scale and socially disadvantaged farmers while promoting sustainable and equitable food procurement. S. 1555 seeks to increase Small Business Administration loan limits for small manufacturers, raising maximum loan amounts to support domestic manufacturing operations. Witnesses testifying included Melissa Ann Spurgin, James 'Jay' F. Funke, Erbin Crowell (Executive Director of the Neighboring Food Co-op Association), and Maria Moreira. The hearing provided a forum for examining how federal policy can support agricultural entrepreneurs and small manufacturers, though the hearing itself does not guarantee these bills will advance to a vote.
Committee on Small Business and Entrepreneurship. Hearings held.
Mar 11, 2026
Committee on Small Business and Entrepreneurship. Hearings held.
May 14, 2025
Committee on Small Business and Entrepreneurship. Hearings held.
May 21, 2025
May 21, 2025 · 14:00
The Senate Committee on Small Business and Entrepreneurship held a hearing on May 21, 2025, to examine three bills aimed at supporting small manufacturers and businesses. S.305, the Small Business Technological Act of 2025, would authorize small business loans to finance access to modern business software and cloud computing services. S.1555, the Made in America Manufacturing Finance Act of 2025, would increase loan limits for small manufacturers under the Small Business Administration's lending programs, raising maximum loan amounts from $3.75 million to $7.5 million for certain loans and from $4.5 million to $9 million for others. S.1593, the Small Business Liberation Act, would exempt small businesses from duties imposed pursuant to the national emergency declared on April 2, 2025, relating to tariffs. The hearing examined legislation with bipartisan support designed to address different challenges facing small businesses. S.305 aims to help small businesses adopt digital tools and technology for operations, payroll processing, and accounting. S.1555 targets small manufacturers specifically, defined as businesses primarily operating in manufacturing sectors with all production facilities in the United States, and includes reporting requirements for job creation and retention. S.1593 addresses tariff impacts on small businesses, with supporters arguing that tariffs pose an existential threat to small business operations. The hearing allowed the committee to gather information on these proposals before deciding whether to advance them. No witnesses were listed for this hearing. The committee's consideration of these bills does not guarantee they will advance to a vote or become law.
Committee on Small Business and Entrepreneurship. Ordered to be reported with an amendment in the nature of a substitute favorably.
Jul 16, 2025
Jul 16, 2025 · 18:30
On July 16, 2025, the Senate Committee on Small Business and Entrepreneurship held a business meeting to consider four pieces of legislation aimed at supporting small businesses. The bills examined were S.1555 (Made in America Manufacturing Finance Act), which increases loan limits for small manufacturers; S.1199 (SBA Fraud Enforcement Extension Act), which extends the statute of limitations for fraud prosecutions in pandemic relief programs; S.2232 (Expanding the Surety Bond Program Act), which increases contract limits for the SBA's surety bond guarantee program; and S.1703 (Rural Small Business Resilience Act), which requires the SBA to improve outreach and access to disaster assistance in rural areas. No witnesses testified at this business meeting, as it was a committee markup session rather than a hearing. The committee considered and advanced these bills for further Senate action. S.1555 would raise loan limits for small manufacturers under the Small Business Act from $3.75 million to $7.5 million for certain loans and from $4.5 million to $9 million for others, while also increasing limits under the Small Business Investment Act from $5.5 million to $10 million. S.1199 would extend the statute of limitations from five to ten years for fraud prosecutions related to pandemic relief programs including the Paycheck Protection Program, Economic Injury Disaster Loans, and Restaurant Revitalization Fund. S.2232 would increase the surety bond program contract limit to $20 million. S.1703 would require the SBA to conduct targeted outreach and provide marketing materials to rural communities affected by disasters. The committee's approval of these bills does not guarantee their passage in the full Senate. Each bill must still be debated and voted on by the entire chamber before advancing further in the legislative process.
Committee on Small Business and Entrepreneurship. Reported by Senator Ernst with an amendment in the nature of a substitute. Without written report.
Jul 29, 2025
Committee on Small Business and Entrepreneurship. Reported by Senator Ernst with an amendment in the nature of a substitute. Without written report.
Jul 29, 2025
Committee on Small Business and Entrepreneurship. Hearings held.
Sep 17, 2025
Sep 17, 2025 · 18:30
The Senate Committee on Small Business and Entrepreneurship held a hearing on September 17, 2025, to examine legislation aimed at strengthening the Small Business Administration's 504 loan program for small manufacturers. The hearing focused on three bills: S. 2662 (504 Modernization and Small Manufacturer Enhancement Act), S. 2659 (504 Credit Risk Management Improvement Act), and S. 1555 (Made in America Manufacturing Finance Act). Committee Chair Joni Ernst (R-Iowa) led the hearing, emphasizing the committee's ongoing work to revitalize American manufacturing and address the sector's decline. The primary legislation examined, S. 2662, would modernize the 504 loan program by expanding policy goals to include workforce development, minority and employee-owned business development, and energy efficiency. The bill increases loan limits for manufacturing loans from $5.5 million to $10 million and provides more flexible loan closing procedures. S. 1555, the Made in America Manufacturing Finance Act, would double the 504 loan limit from $5 million to $10 million for small manufacturers seeking to modernize, grow, and train workers. S. 2659 would enhance oversight and accountability of the 504 program through improved credit risk management. Chair Ernst noted that small manufacturers have been constrained by current loan limits, with many forced to slow growth or seek less favorable outside financing. The hearing included testimony from certified development company lenders and program participants who shared perspectives on how the 504 program could be improved. The 504 program provides long-term, fixed-rate financing for major assets and has maintained a low default rate of under one percent annually. A hearing does not guarantee that legislation will advance; the bills must still be considered by the full committee and Senate.
Committee on Small Business and Entrepreneurship. Hearings held.
Jan 14, 2026
Jan 14, 2026 · 19:30
On January 15, 2026, the Senate Committee on Small Business and Entrepreneurship held a hearing titled 'Growing the Small Business Agricultural Economy' at 428A Russell Senate Office Building to examine legislation supporting small agricultural and manufacturing businesses. The hearing focused on three bills: S. 2100 (Modernizing Agricultural and Manufacturing Bonds Act), S. 3471 (EFFECTIVE Food Procurement Act), and S. 1555 (Made in America Manufacturing Finance Act of 2025). S. 2100 proposes to modernize federal rules for agricultural and manufacturing bonds by expanding the definition of manufacturing facilities to include high-tech production and increasing bond size limits from $10 million to $30 million. The bill also modifies financing rules for first-time farmers. S. 3471 aims to reform USDA food purchasing practices to increase support for small-scale and socially disadvantaged farmers while promoting sustainable and equitable food procurement. S. 1555 seeks to increase Small Business Administration loan limits for small manufacturers, raising maximum loan amounts to support domestic manufacturing operations. Witnesses testifying included Melissa Ann Spurgin, James 'Jay' F. Funke, Erbin Crowell (Executive Director of the Neighboring Food Co-op Association), and Maria Moreira. The hearing provided a forum for examining how federal policy can support agricultural entrepreneurs and small manufacturers, though the hearing itself does not guarantee these bills will advance to a vote.
Committee on Small Business and Entrepreneurship. Hearings held.
Mar 11, 2026