CONGRESS FOR VOTERS

Joni Ernst (R-IA)

S.Amdt. 6309

S.Amdt. 6309 · Senate amendment

A Republican amendment with 3 Democratic cosponsors · See all 6 cosponsors

Changes S. 4784 — National Defense Authorization Act for Fiscal Year 2027

Offered

Offered, and not voted on yet. Most amendments never get a vote: the Senate takes up the bill and moves on without them.

Its path through Congress

  1. Introduced
  2. Pending Consideration

What this amendment would do

This amendment aims to increase loan limits for small manufacturers by modifying the Small Business Act and the Small Business Investment Act of 1958.

Changes and Additions:

  • Definition of Small Manufacturer: It defines a small manufacturer as a small business concern whose primary business is in North American Industrial Classification System sectors 31, 32, or 33, and whose production facilities are all located in the United States.

  • Increased Loan Limits:

    • Under Section 7(a) of the Small Business Act, it raises the loan limit for small manufacturers to $7,500,000 (or if the gross loan amount exceeds $10,000,000).
    • It increases the limit to $9,000,000 (or if the gross loan amount exceeds $10,000,000) for certain cases, with no more than $8,000,000 used for working capital, supplies, or export financings.
    • It increases the limit in Section 7(a)(14)(B)(i) to $10,000,000 for small manufacturers.
    • Under the Small Business Investment Act of 1958, it increases the limit from $5,500,000 to $10,000,000.

  • Accountability and Oversight:

    • The Inspector General of the Small Business Administration must conduct an analysis within 2 years of enactment to check projected and early default rates and determine if these increases introduce additional risk.
    • The Administrator of the Small Business Administration must provide annual reports for 5 years regarding larger loans to small manufacturers, including data on jobs created or retained and whether these loans prevented job losses.