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Lawmakers and SBA official debate raising manufacturing loan limits to $10 million
Summary
Committee members and the SBA's associate administrator discussed proposals to raise SBA loan limits for manufacturers to $10 million, including the Made in America Manufacturing Finance Act referenced by the chair, and whether data supports that threshold.
Chairman Williams and other committee members highlighted the administration's push to expand financing options for small manufacturers and asked the SBA to explain the basis for a proposed $10 million loan limit for manufacturing borrowers.
Thomas Kimsey, the SBA associate administrator for the Office of Capital Access, told the committee that "manufacturing is capital intensive" and that lenders and manufacturers he has met "asked to increase the limit from $5,000,000 to $10,000,000." He said the limit has not been updated…
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