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Easier Access to Large Loans and Lower Down Payments for Small Manufacturers

This law significantly improves access to large federal loans (the 504 program) for small businesses, especially manufacturers, for purchasing real estate and equipment. It increases the maximum loan amount for manufacturers to $10 million and reduces the required down payment, making expansion and investment easier. The program also expands its focus to support workforce development, renewable energy investments, and aid for disaster-stricken areas.
Key points
The maximum loan amount for small manufacturers under the 504 program increases from $5.5 million to $10 million.
Manufacturers can secure loans with a lower minimum contribution (starting at 5%) and are exempt from providing additional collateral.
The 504 program expands its policy goals to support workforce development, energy efficiency investments, and assistance for disaster-declared areas.
Loan closing procedures are streamlined, and rules regarding leasing portions of the financed property are made more flexible, particularly for manufacturers.
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Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_S_2662
Sponsor: Sen. Klobuchar, Amy [D-MN]
Process start date: 2025-08-01
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

504 Modernization and Small Manufacturer Enhancement Act of 2025

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_S_2662.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-08-01.

What are the main provisions?

Key points include:

  • The maximum loan amount for small manufacturers under the 504 program increases from $5.5 million to $10 million.
  • Manufacturers can secure loans with a lower minimum contribution (starting at 5%) and are exempt from providing additional collateral.
  • The 504 program expands its policy goals to support workforce development, energy efficiency investments, and assistance for disaster-declared areas.
  • Loan closing procedures are streamlined, and rules regarding leasing portions of the financed property are made more flexible, particularly for manufacturers.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Klobuchar, Amy [D-MN].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-31.

CATEGORIES

Economy Public Investments Labor