"Ernst’s “Made in America” Bill Earns Support of Iowans"
Summary
An announcement dated May 7, 2025 collecting statements of support for the Made in America Manufacturing Finance Act from Senate Committee on Small Business and Entrepreneurship Chair Joni Ernst and House Small Business Committee Chairman Roger Williams. It describes the bill as doubling the loan limit for Small Business Administration manufacturing loans. The statements come from leaders of the Iowa Association of Business and Industry, the Iowa Bankers Association, the Cedar Rapids Metro Economic Alliance, the Greater Burlington Partnership, Job Creators Network and national small business and lender groups. Several statements say the bill would raise the 7(a) and 504 loan program limits to $10 million for small manufacturers, and one notes the 7(a) maximum was last increased to $5 million 15 years ago.
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Title: Ernst’s “Made in America” Bill Earns Support of Iowans Date: 2025-05-07 Ernst’s “Made in America” Bill Earns Support of Iowans May 7, 2025 Read the release on Sen. Ernst's website HERE. WASHINGTON – U.S. Senate Committee on Small Business and Entrepreneurship Chair Joni Ernst (R-Iowa) and House Small Business Committee Chairman Roger Williams’ (R-Texas) newly unveiled initiative to continue the domestic manufacturing explosion happening under President Trump has earned widespread praise. Business leaders in Iowa and across the country have applauded the bipartisan Made in America Manufacturing Finance Act that doubles the loan limit for Small Business Administration (SBA) manufacturing loans to bring back “Made in America.” What They Are Saying About the Made in America Manufacturing Finance Act: Iowa Association of Business and Industry “Iowa’s manufacturers are ready to grow, invest, and lead in the future of American manufacturing - but access to capital is critical,” said Nicole Crain, President. “The Made in America Manufacturing Finance Act is a commonsense solution that will empower small manufacturers to invest in the tools, technology, and facilities they need to compete globally. ABI applauds Senator Ernst and Chairman Williams for their leadership and commitment to strengthening U.S. manufacturing.” Iowa Bankers Association “The Iowa Bankers Association thanks Senator Joni Ernst for her leadership in proposing the Made in America Manufacturing Finance Act,” said Adam Gregg, President. “Bank leaders in Iowa have advocated for increasing the loan limits in these SBA programs with the goal of driving more investment in communities across the state of Iowa. Manufacturing is an important piece of Iowa’s economy, and Iowa banks are proud partners in helping small businesses grow and expand. This proposed legislation will make the work of our Iowa banks even more impactful.” Cedar Rapids Metro Economic Alliance “Manufacturing is a cornerstone of our region’s economic vitality,” said Barbra Solberg. “By increasing access to capital for small manufacturers, the Made in America Manufacturing Finance Act empowers businesses to expand, innovate and compete globally---while reinforcing our domestic supply chains. We commend Senator Ernst for her leadership as Chair of the Senate Small Business Committee and her commitment to addressing the financial needs of small manufacturers in today’s economy.” Greater Burlington Partnership “Increasing loan limits for small manufacturers strengthens the backbone of our local economy,” said Amy O’Brien, CEO. “This bipartisan effort will give more Iowa businesses the tools they need to expand operations, invest in new technology, and create quality jobs right here at home. As the cost of doing business continues to rise, we support the recommended increases in borrowing to accommodate our manufacturing businesses.” Job Creators Network “Senate Small Business Committee Chair Joni Ernst and House Small Business Committee Chairman Roger Williams are standing up for American small businesses by introducing the Made in America Manufacturing Finance Act,” said Alfredo Ortiz, CEO. “This legislation significantly expands access to credit for American manufacturers under the Small Business Administration’s 7(a) and 504 loan programs, providing American manufacturers with the funds they need to invest, expand, and create good manufacturing jobs. This legislation is especially important during this period of high interest rates and scarce access to capital. It will significantly help grow the productive economy and contribute to President Trump’s goal of reshoring critical manufacturing capacity. All legislators on both sides of the aisle should vigorously support it.” Small Business & Entrepreneurship Council “Increasing the SBA’s 7(a) and 504 loan program limits to $10 million for small manufacturers is a pragmatic reform that will provide entrepreneurs with a modernized level of resources needed to build, transform, or expand manufacturing facilities and capabilities in support of advanced U.S.-based manufacturing,” said Karen Kerrigan, President & CEO. “Small, entrepreneurial firms dominate U.S. manufacturing, and if our goal is to support their competitiveness, growth and innovative capacity, access to appropriate levels of capital is necessary. Leveling up these proven SBA loan programs will help to fuel manufacturing activity and innovation, which is so vital to U.S. economic growth, opportunity, and our global competitiveness. SBE Council strongly supports the Made in America Manufacturing Finance Act.” National Small Business Association “While the demand for broader access to capital is generalized across the entire small business ecosystem, capital-intensive industries, including manufacturing, face unique challenges,” said Todd McCracken, President & CEO. “Initial investments in these industries, as well as long term development costs and diversification are appreciably more capital intensive than other businesses, as even a small change could result in significant retooling and related costs. Commonsense changes to existing federal support programs for small manufacturers would go a long way to leveling the playing field and allowing American entrepreneurs to invest in the United States. That is why we are pleased to support the Made in America Manufacturing Finance Act of 2025, which would increase the maximum loans small manufacturing companies are eligible for under the existing 7(a) and 504 loan programs.” National Association of Development Companies “The time is now to increase the 504 manufacturing loan size and foster expansion opportunities for our nation’s small manufacturers,” said Rhonda Pointon, President & CEO. “The National Association of Development Companies (NADCO) and CDCs across the country strongly support the Made in America Manufacturing Finance Act (MAMFA). This legislation would raise the 504 manufacturing loan limit to $10 million – empowering small manufacturers to scale, strengthen domestic production, and create high-quality jobs.” National Association of Government Guaranteed Lenders “Often, manufacturers need large facilities and/or specialty equipment that can exceed the current SBA loan size limitations,” said Anthony Wilkinson, President & CEO. “Therefore, especially since it has been 15 years since the 7(a) Program maximum loan size was increased to $5 million, we believe that it would be appropriate to consider increasing that maximum to $10 million for loans to small business manufacturers as proposed in your legislation.” ### Permalink: https://www.sbc.senate.gov/public/index.cfm/2025/5/ernst-s-made-in-america-bill-earns-support-of-iowans
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