Made in America Manufacturing Finance Act
Small Business Administration Administrator Kelly Loeffler announced the Made in America Manufacturing Finance Act to boost manufacturing in the US by increasing SBA loans to small businesses. The bill would double the individual loan limit for small manufacturing loans from $5 million to $10 million.
Key Points
- Legislation aims to bring back American economic independence
- Increased capital through SBA loans complements Trump tax cuts
- SBA provides guidance on reshoring or onshoring manufacturing in the US
Pros
- Boosts manufacturing in the United States
- Increases access to capital for small businesses
- Bipartisan support
Cons
- Potential dependence on SBA loans for growth