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Investors and lawmakers press to expand SBIC/RBIC and SBA loan limits to finance U.S. factories
Summary
Investors and small-business founders told the Senate committee that expanding Small Business Investment Company and Rural Business Investment Company leverage, and raising SBA loan limits for manufacturers, would unlock capital for reshoring and growing small manufacturers in rural and low‑income areas.
Witnesses at the Senate Committee on Small Business and Entrepreneurship hearing described how public–private financing tools have helped small manufacturers and urged Congress to expand those programs.
John Michaelson, co‑founder and managing partner of Midwest Growth Partners in Des Moines, said SBIC and RBIC vehicles channel patient capital into overlooked rural companies and cited concrete outcomes. "Starting with 7 employees after our first investment in 2014, today Midwest Growth Partners companies employ more than 3,000," Michaelson said.
Michaelson told senators there are "318 SBICs with over $46,000,000,000 in committed capital" and that about 20 percent of SBIC dollars currently flow to small manufacturers. He described Rural Business Investment Companies (RBICs) as a complementary tool and said RBICs have…
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