3.0.0 2131 2022-11-01T13:50:37Z 2022-11-01T13:50:37Z Senate S 2019-07-16 116 sssb00 Small Business and Entrepreneurship Committee Senate Standing Referred to 2019-07-16T19:17:04Z Strengthening Investment to Grow Manufacturing in America Act 116 3730 HR 2019-07-11 Referred to the Committee on Small Business, and in addition to the Committee on Science, Space, and Technology, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Identical bill CRS 2019-07-16 sssb00 Small Business and Entrepreneurship Committee Senate Read twice and referred to the Committee on Small Business and Entrepreneurship. IntroReferral 2019-07-16 Introduced in Senate IntroReferral 10000 9 Library of Congress C001088 Sen. Coons, Christopher A. [D-DE] Christopher Coons D DE A. N S001184 Sen. Scott, Tim [R-SC] Tim Scott R SC 2019-07-16 True G000562 Sen. Gardner, Cory [R-CO] Cory Gardner R CO 2019-07-16 True R000608 Sen. Rosen, Jacky [D-NV] Jacklyn Rosen D NV 2019-07-16 True Commerce Advanced technology and technological innovations Business education Congressional oversight Economic development Executive agency funding and structure Government information and archives Government lending and loan guarantees Manufacturing Minority and disadvantaged businesses Rural conditions and development Securities Small Business Administration Small business Social work, volunteer service, charitable organizations User charges and fees Veterans' education, employment, rehabilitation Women in business Commerce 00 2019-07-16 Introduced in Senate 2020-04-28T18:20:47Z Strengthening Investment to Grow Manufacturing in America Act

This bill provides incentives, investment, and resources for U.S. small manufacturers.

Specifically, the bill increases the maximum loan guarantee rate for Small Business Association (SBA) loans to manufacturers, and it increases the limit for loans to be used for plant acquisition, construction, conversion, and expansion.

The bill also eliminates guarantee fees paid by small manufacturers for loans under $350,000 and reduces the fees on loans over that amount. For acquisition and construction loans, the bill reduces the financing requirement for small manufacturers and increases the allowable debt refinancing for facility expansions. Small manufacturers are further authorized to lease a greater percentage of their facility to obtain financing.

In addition, the bill authorizes discount debentures to manufacturers and provides leverage capacity in the Small Business Investment Company program for investments in small manufacturers (1) in low or moderate income areas, rural areas, or areas of high unemployment; or (2) that are veteran-, minority-, or women-owned, have demonstrated employment growth, or are vital to national security.

The bill further directs the SBA to use its existing resources to provide training and education to small manufacturers on how to navigate application processes for receiving assistance from SBA programs. Lastly, the bill directs the SBA to ensure its business loan programs provide adequate support for innovative technologies in manufacturing.

]]> Strengthening Investment to Grow Manufacturing in America Act Display Title Strengthening Investment to Grow Manufacturing in America Act Short Title(s) as Introduced Strengthening Investment to Grow Manufacturing in America Act Introduced in Senate IS Official Title as Introduced A bill to amend the Small Business Act and the Small Business Investment Act of 1958 to increase access to capital for small business concerns that are manufacturers. Introduced in Senate IS Introduced in Senate 2019-07-16T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116s2131is/xml/BILLS-116s2131is.xml 2019-07-16 Read twice and referred to the Committee on Small Business and Entrepreneurship. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.