S. 1555

119 S1555 IS: Made in America Manufacturing Finance Act of 2025
 U.S. Senate
 2025-05-01
 text/xml
 EN
 Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
 II  119th CONGRESS  1st Session  S. 1555  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.
1.
Short title
This Act may be cited as the   Made in America Manufacturing Finance Act of 2025  .
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.
 .
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.
  .
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 .