WASHINGTON, DC — Small Business Administration (SBA) Administrator Kelly Loeffler told Breitbart News that the legislation she announced with lawmakers this week would help bring back American “economic independence” and supercharge the return of American industry by boosting SBA loans to small businesses.
Administrator Loeffler, Senate Small Business Committee Chair Joni Ernst (R-IA), House Small Business Committee Chairman Roger Williams, and Sen. Chris Coons (D-DE) make headlines this week when they announced the Made in America Manufacturing Finance Act, a bill that seeks to boost manufacturing in the United States by boosting the capital available to small businesses through the SBA.
Specifically, the bill, if passed through Congress, would double the individual loan limit for the 7(a) and 504 small manufacturing loans from $5 million to $10 million.
Loeffler sees the legislation as something everyone can get behind regardless of political affiliation.
“It was really exciting to be able to in the first 100 days, to be able to work on a piece of bipartisan legislation. And, I think there’s nothing more bipartisan than small businesses, they power our local communities and innovation,” the Small Business Administration leader said.
Loeffler said that the increased access to capital would help American entrenepeuers and build more in the Unites States.
“I’ve been out on the road, whether it’s talking with our lenders, great thing about the SBA, It’s a public private partnership. The costs are really not borne by the taxpayer. The local lenders are the ones making the loans provide a guarantee that is self funding. But we’ve heard both from lenders and our manufacturers, of which 99 percent qualify as small businesses, that they need more capital. These these loan limits at $5 million were set years, decades ago, and obviously with inflation and the sophistication of automation, manufacturing, we need to have more resources to access to capital.”
She continued, noting that the increased capital through these SBA loans would complement the Trump tax cuts.
“That’s going to allow them to hire, expand and invest much more quickly, particularly as President Trump’s tax cuts are made permanent. I really think manufacturing is spring loaded. If we can get those tax cuts passed quickly, you will see a strong trajectory of growth in the manufacturing sector and well beyond,” she explained.
The SBA is blazing the trail to encourage beneficial lending for the Trump economy in a fashion that many other government bodies and even corporations could embrace.
Breitbart News economics editor John Carny wrote in November 2024 that these loans could be used to help create the “new Trump economy.”
“Many of these pro-growth reforms can begin even without congressional action. Only the additional tax cuts would require new laws to take effect. But each of them could be strengthened if Congress later enshrined the changes into law, guaranteeing that the next administration could not undo them with the stroke of a pen,” Carney wrote.
Loeffler said that the potential is there to make things across Main Streets across America.
She said she has talked to “a lot of governors and their economic development teams. The conversations are happening right now in real time, and that is thanks to President Trump’s Liberation Day, which freed us from being completely dependent on the Chinese Communist Party and return that to Main Street, to Peoria, to Pittsburgh, and Little Rock, and every place in between that we need to make things in this country, and that is actually happening. And so I think it would be hard for someone to stand in the way of that type of legislation.”
Loeffler said that the SBA does not merely provide capital to small businesses; the agency also provides guidance, including how to reshore or onshore manufacturing in the United States.
She explained, “Part of our role is providing access to capital, but another part of our role is counseling, making sure that we’re providing the connection, so that when a manufacturer is trying to onshore or expand their supply chain access in the United States, we’re providing that information. So we’re also working on connecting small businesses with local manufacturers. We’ll be rolling out more of those concepts in the near term.”
Loeffler continued, “I think the biggest thing with access to capital means that that manufacturer, who’s maybe kind of the smallish manufacturer that is being relied on aerospace or automotive or other things that we’re seeing emergency emerging around technology semiconductors, that they’re going to be able to say, ‘Okay, I can commit to that contract with that larger manufacturer. I can subcontract now, because I can buy that equipment, machinery and make the hires I need to do.’”
She said that the president’s policies would help bring back growth and economic independence, which will revitalize Americans nationwide.
Loeffler said that the president’s policies are “bringing back our economic independence and progress. Prosperity. We’re not going to be dependent on the Chinese Communist Party. We’re becoming energy dominant. Again, I love that. That’s absolutely strategically critical around the world. But we’re really elevating Main Streets. We’re making sure that our communities, rural communities, urban communities, people aren’t left behind.”
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Sean Moran is a policy reporter for Breitbart News. Follow him on X @SeanMoran3.
