Section 1 Short title
This Act may be cited as the “Made in America Manufacturing Finance Act”.
Made in America Manufacturing Finance Act
AN ACT
To increase loan limits for loans made to small manufacturers, and for other purposes.
Sec. 2 Definitions
Section 3 of the Small Business Act (15 U.S.C. 632) is amended by adding at the end the following:
“(gg) Small manufacturer—The term small manufacturer means a small business concern—
“(1) the primary business of which is classified in sector 31, 32, or 33 of the North American Industrial Classification System; and
“(2) all of the production facilities of which are located in the United States.”
Sec. 3 Small Business Act loan limits for small manufacturers
Section 7(a) of the Small Business Act (15 U.S.C. 636(a)) is amended—
in paragraph (3)—
in subparagraph (A)—
by inserting “except as provided in subparagraph (B),” before “if the total”;
by striking “would exceed $3,750,000” and inserting the following:
“(i) $3,750,000”
in clause (i), as so designated, by striking “, except as provided in subparagraph (B);” and inserting “; or”; and
by adding at the end the following:
“(ii) in the case of a borrower that is a small manufacturer, $7,500,000 (or if the gross loan amount would exceed $10,000,000);”
in subparagraph (B)—
by striking “would exceed $4,500,000” and inserting the following:
“(i) $4,500,000”
in clause (i), as so designated, by striking “section 7(a)(14) for export purposes; and” and inserting “paragraph (14) for export purposes; or”; and
by adding at the end the following:
“(ii) in the case of a borrower that is a small manufacturer, $9,000,000 (or if the gross loan amount would exceed $10,000,000), of which not more than $8,000,000 may be used for working capital, supplies, or financings under paragraph (14) for export purposes; and”
in paragraph (14)(B)(i), by striking “than $5,000,000.” and inserting the following:
“(I) except as provided in subclause (II), $5,000,000; or
“(II) in the case of a loan made to a small manufacturer, $10,000,000.”
Sec. 4 Small Business Investment Act of 1958 loan limits for small manufacturers
Section 502(2)(A)(iii) of the Small Business Investment Act of 1958 (15 U.S.C. 696(2)(A)(iii)) is amended by striking “$5,500,000” and inserting “$10,000,000”.