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Investing in America's Small Manufacturers Act

Introduced: February 16, 2017 See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 25, 2017
Referred to the Subcommittee on Research and Technology.
Feb 16, 2017
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.
Feb 16, 2017
Introduced in House
 Plain-English summary Congressional Research Service

Investing in America's Small Manufacturers Act

This bill amends the Small Business Act to authorize the Small Business Administration (SBA) to guarantee 90% of a loan to a small business manufacturing concern.

The SBA may not collect a guarantee fee for a loan of not more than $350,000. For loans exceeding that amount, the fee shall be 50% of the guarantee fee that the SBA would otherwise collect for the loan.

The SBA must provide training to small manufacturers in obtaining SBA assistance, including on the application process and partnering with participating lenders.

This bill authorizes the SBA and its partners to establish partnerships to facilitate outreach to small manufacturers with respect to the application process for SBA loan guarantees.

A state or local development company's debenture issued to a small manufacturer for an SBA loan guarantee may not exceed 50% of the project's cost, subject to certain exceptions.

What's happening now April 25, 2017

Referred to the Subcommittee on Research and Technology.

 Committees of jurisdiction 3
 Cosponsors 4
All 4 Democratic 4