First on FOX: The cooperative framework between the Trump administration, Senate Speaker Dozi Caucus, and the House's top small business lawmakers are trying to boost domestic manufacturing by doubling the capital that small businesses can access.
Manufacturing loans rose 74% in President Donald Trump's first 100 days.
Proponents of the measure say that by doubling the limit from $5 million to $10 million for 7(a), these small businesses can invest more in their labor and products with 504 loans targeting small manufacturing outfits that may not be able to borrow from traditional banks.
House Small Business Committee Chairman Roger Williams, R-Texas, told Fox News Digital on Wednesday that he, Sen. Joni Ernst, R. Iowa and Small Business Administrators (SBA) manager Kelly Loeffler are proud to work together in law.
“The Made in America Manufacturing Finance Act provides small business owners with the capital they need to expand, modernize and compete,” Williams said. “We must continue to support and empower the creators of jobs that keep our communities thriving.”
This is an excerpt from an article by Charles Creitz from Fox Business
