We have received text from S. 2662: 504 Modernization and Small Manufacturer Enhancement Act of 2025. This bill was received on 2025-08-01, and currently has 1 cosponsor.
Here is a short summary of the bill:
The bill titled "504 Modernization and Small Manufacturer Enhancement Act of 2025" aims to amend the Small Business Investment Act of 1958 with several key initiatives focused on improving access to capital for small manufacturers. Below is a summary of the main provisions included in the bill:
Policy Goals for Development Company Program
The bill adds new policy goals to enhance small businesses' development, including:
- Incorporating workforce development via training programs to ensure small businesses can provide documented training opportunities for employees.
- Expanding support for minority-owned, women-owned, and employee-owned businesses.
- Encouraging energy efficiency and renewable energy utilization to reduce costs for small businesses.
- Support for revitalization in disaster-declared areas and businesses with 10 or fewer employees.
Loan Amount Increases
The legislation increases the maximum loan amount for manufacturing loans from $5.5 million to $10 million, which aims to provide more financial resources for small manufacturers.
Improvements to Loan Closing Procedures
The bill proposes changes to streamline the loan closing process, allowing accredited lenders more flexibility in managing project costs and correcting loan-offering details. This includes the ability to:
- Reallocate project costs within a defined limit.
- Correct borrower and loan information effectively.
- Make adjustments to third-party lenders and reduce standby debt before closing.
Certified Development Company Loans for Small Manufacturers
New provisions include specific contribution requirements for small manufacturers, which may reduce upfront costs for capital and adjustments in refinancing of existing debts. Key provisions include:
- Reduced collateral requirements for small manufacturers seeking loans.
- Increased financing options for debt refinancing that may not exceed 100% of project costs for eligible small manufacturers.
Assistance for Small Manufacturers
The bill mandates that each local district office of the Small Business Administration (SBA) partner with at least one resource partner to provide training and support specifically for small manufacturers, facilitating access to funding and assistance programs.
Leasing Rules for New Facilities and Existing Buildings
Provisions are made for small manufacturers to lease portions of new facilities while ensuring that they maintain a significant proportion of utilization. Key changes include:
- Reduced occupancy requirements for small manufacturers from 60% to 50% in new facilities.
- Leasing allowances for existing buildings are adjusted while maintaining oversight to prevent misuse of funding aimed at operational expenses.
Reporting Requirements
A requirement is included for the SBA to provide a report to Congress within five years after the enactment of the bill, assessing its impact on capital access for small businesses and its effectiveness in achieving the intended objectives.
Relevant Companies
None found
Senator Amy Klobuchar Bill Proposals
Here are some bills which have recently been proposed by Senator Amy Klobuchar:
- S.2665: Drug Shortage Prevention Act of 2025
- S.2662: 504 Modernization and Small Manufacturer Enhancement Act of 2025
- S.2639: Military Spouse Entrepreneurship Act of 2025
- S.2638: Energy Efficiency for Affordable Housing Act
- S.2576: Election Mail Act
- S.2467: Agricultural Biorefinery Innovation and Opportunity Act of 2025
You can track bills proposed by Senator Amy Klobuchar on Quiver Quantitative's politician page for Klobuchar.
Senator Amy Klobuchar Net Worth
Quiver Quantitative estimates that Senator Amy Klobuchar is worth $2.1M, as of August 14th, 2025. This is the 225th highest net worth in Congress, per our live estimates.
Klobuchar has approximately $0 invested in publicly traded assets which Quiver is able to track live.
You can track Senator Amy Klobuchar's net worth on Quiver Quantitative's politician page for Klobuchar.
This article is not financial advice. See Quiver Quantitative's disclaimers for more information.
