SB1352: 504 Modernization and Small Manufacturer Enhancement Act of 2023
- 1Introduced (current step)
- 2Passed One Chamber
- 3Passed Both Chambers
- 4Became Law
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Bill information
Summary
A bill to amend the Small Business Investment Act of 1958 to improve the loan guaranty program, enhance the ability of small manufacturers to access affordable capital, and for other purposes.
Plain-language summary
This bill would change how the Small Business Administration (SBA) guarantees loans to small businesses, aiming to make it easier for small manufacturers to borrow money. The SBA's loan guarantee program lets banks lend to small businesses with less risk by promising to cover losses if the borrower defaults. The bill focuses on improving this existing program and specifically helping small manufacturers—businesses that make products—access more affordable loans. The legislation was introduced in Congress but has not yet been assigned to a for review.
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SB1352: 504 Modernization and Small Manufacturer Enhancement Act of 2023
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Sponsors
Amy Klobuchar
Primary SponsorCo-sponsors (4)
Todd Young
Cory Booker
Marco Rubio
Maria Cantwell