Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 283.
This bill raises the maximum size of government-backed loans available to small American manufacturers. Right now, small businesses can get loans up to about $3.75 million to $5.5 million through Small Business Administration programs. This bill roughly doubles those limits for manufacturers whose factories are all in the United States, letting them borrow up to $7.5 million to $10 million depending on the loan type.
Small U.S. factories could borrow nearly twice as much through government-backed loans, making it easier to buy equipment, expand facilities, and hire workers , but taxpayers take on more risk if those larger loans go unpaid.