WASHINGTON, DC – Kelly Loeffler, the Small Business Administrator, shared with Breitbart News that a new law she announced as a lawmaker aims to enhance America’s “economic independence” and shift focus back to small businesses.
Alongside Senate Small Business Committee Chairman Joni Ernst, House Small Business Committee Chairman Roger Williams, and Senator Chris Coons, Loeffler is in the spotlight this week for introducing the American Manufacturing Finance Act.
Specifically, this legislation proposes to double the individual loan limits for 7(a) and 504 small manufacturing loans, increasing them from $5 million to $10 million if it successfully passes through Congress.
Loeffler believes that the benefits of this law could appeal to people across the political spectrum.
“It’s been truly energizing to work on bipartisan legislation within the first 100 days, as I believe that small businesses aren’t a partisan issue,” she remarked.
She emphasized that increasing access to capital is crucial for American entrepreneurs to invest more domestically.
“When we’re speaking with lenders, the beauty of the SBA is that it doesn’t impose costs on taxpayers. Local lenders ensure that the loans are self-funded. Given the challenges of inflation and automation in manufacturing, we need better access to financial resources,” she stated.
She also noted that the additional capital from these SBA loans would complement the tax cuts initiated by Trump.
“This allows businesses to hire, expand, and invest more rapidly, especially now that President Trump’s tax cuts are becoming permanent. I firmly believe the manufacturing sector is on the verge of significant growth. If we can push these tax cuts through swiftly, we’ll likely see a robust upward trend in manufacturing,” she explained.
The SBA is actively promoting advantageous loans aligned with the aims of the Trump administration, unlike some other governmental bodies.
John Carney from Breitbart News mentioned in late 2024 that such measures could contribute to a “new Trump economy.”
“Many reforms can take effect without Congressional approval. Only further tax cuts would activate the new law. However, enhancements could be made if Congress opts to adjust the law later, ensuring that future administrations can’t easily roll them back,” Carney commented.
Loeffler expressed optimism about revitalizing local economies across America.
“Numerous governors and their economic development teams are currently engaged in discussions. This is all thanks to President Trump’s policies. Communities have been heavily reliant on the Chinese Communist Party, but we’re now working towards a return to local economies, from Peoria to Pittsburgh and beyond,” she remarked.
Loeffler reinforced that the SBA is not just about offering capital but also provides guidance on reshoring and onshoring manufacturing within the U.S.
She elaborated: “Our role includes facilitating access to funding, but we also focus on advising and connecting local manufacturers with small businesses. We aim to assist manufacturers in broadening their land or supply chain access within the U.S.”
Loeffler added, “Access to capital is vital, especially for smaller manufacturers reliant on sectors like aerospace, automotive, or technology.”
She believes that the president’s policies will catalyze growth and economic independence, positively impacting Americans nationwide.
Loeffler concluded that the administration’s approach is about “restoring our economic independence and advancing prosperity. We will not be dependent on the Chinese Communist Party, particularly in energy matters. I find this reassuring.”
