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SBA backs increased lending for manufacturers and launches onshoring portal as lawmakers debate tariffs and exemptions
Summary
At the Small Business Committee hearing, members discussed tariffs, trade impacts on small manufacturers and legislation to raise SBA loan caps for manufacturers. Administrator Kelly Loeffler supported a bill to double loan limits for manufacturers and highlighted a new onshoring portal to help small firms find U.S. suppliers.
Lawmakers and Administrator Kelly Loeffler used the hearing to press the administration’s trade and industrial strategy for small manufacturers. Chairman Williams introduced HR 3174, the Made in America Manufacturing Finance Act, and asked Loeffler how increasing SBA loan size would help manufacturers. Williams said HR 3174 “increases the maximum SBA loan size for small manufacturers from $5,000,000 to $10,000,000.”
Loeffler told the committee that doubling that loan cap “will…
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