S. 1555 — To increase loan limits for loans made to small manufacturers (119th Congress)
Summary
S. 1555 is a bill introduced in the Senate on May 1, 2025 by Ms. Ernst (for herself and Mr. Coons) and referred to the Committee on Small Business and Entrepreneurship. It defines a small manufacturer as a small business concern whose primary business is classified in sector 31, 32, or 33 and all of whose production facilities are located in the United States. For a borrower that is a small manufacturer, it adds a $7,500,000 limit and a $9,000,000 limit to the loan limits in the Small Business Act, and a $10,000,000 limit under paragraph (14)(B)(i). It also strikes $5,500,000 in the Small Business Investment Act and inserts $10,000,000.
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“S. 1555 — To increase loan limits for loans made to small manufacturers (119th Congress).”
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II
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 En-
trepreneurship
A BILL
To increase loan limits for loans made to small
manufacturers, and for other purposes.
1 Be it enacted by the Senate and House of Representa-
2 tives of the United States of America in Congress assembled,
3 SECTION 1. SHORT TITLE.
4 This Act may be cited as the ‘‘Made in America Man-
5 ufacturing Finance Act of 2025’’.
6 SEC. 2. DEFINITIONS.
7 Section 3 of the Small Business Act (15 U.S.C. 632)
8 is amended by adding at the end the following:
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9 ‘‘(gg) SMALL MANUFACTURER.—The term ‘small
10 manufacturer’ means a small business concern—
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1 ‘‘(1) the primary business of which is classified
2 in sector 31, 32, or 33 of the North American In-
3 dustrial Classification System; and
4 ‘‘(2) all of the production facilities of which are
5 located in the United States.’’.
6 SEC. 3. SMALL BUSINESS ACT LOAN LIMITS FOR SMALL
7 MANUFACTURERS.
8 Section 7(a) of the Small Business Act (15 U.S.C.
9 636(a)) is amended—
10 (1) in paragraph (3)—
11 (A) in subparagraph (A)—
12 (i) by inserting ‘‘except as provided in
13 subparagraph (B),’’ before ‘‘if the total’’;
14 (ii) by striking ‘‘would exceed
15 $3,750,000’’ and inserting the following:
16 ‘‘would exceed—
17 ‘‘(i) $3,750,000’’;
18 (iii) in clause (i), as so designated, by
19 striking ‘‘, except as provided in subpara-
20 graph (B);’’ and inserting ‘‘; or’’; and
21 (iv) by adding at the end the fol-
22 lowing:
23 ‘‘(ii) in the case of a borrower that is
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24 a small manufacturer, $7,500,000 (or if
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1 the gross loan amount would exceed
2 $10,000,000);’’; and
3 (B) in subparagraph (B)—
4 (i) by striking ‘‘would exceed
5 $4,500,000’’ and inserting the following:
6 ‘‘would exceed—
7 ‘‘(i) $4,500,000’’;
8 (ii) in clause (i), as so designated, by
9 striking ‘‘section 7(a)(14) for export pur-
10 poses; and’’ and inserting ‘‘paragraph (14)
11 for export purposes; or’’; and
12 (iii) by adding at the end the fol-
13 lowing:
14 ‘‘(ii) in the case of a borrower that is
15 a small manufacturer, $9,000,000 (or if
16 the gross loan amount would exceed
17 $10,000,000), of which not more than
18 $8,000,000 may be used for working cap-
19 ital, supplies, or financings under para-
20 graph (14) for export purposes; and’’; and
21 (2) in paragraph (14)(B)(i), by striking ‘‘than
22 $5,000,000.’’ and inserting the following: ‘‘than—
23 ‘‘(I) except as provided in sub-
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24 clause (II), $5,000,000; or
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1 ‘‘(II) in the case of a loan made
2 to a small manufacturer,
3 $10,000,000.’’.
4 SEC. 4. SMALL BUSINESS INVESTMENT ACT OF 1958 LOAN
5 LIMITS FOR SMALL MANUFACTURERS.
6 Section 502(2)(A)(iii) of the Small Business Invest-
7 ment Act (15 U.S.C. 696(2)(A)(iii)) is amended by strik-
8 ing ‘‘$5,500,000’’ and inserting ‘‘$10,000,000’’.
Æ
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