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EXCLUSIVE ON FOX: A partnership between the Trump administration, the Senate Doge Caucus chairwoman, and the top House small-business lawmaker seeks to revitalize homegrown industries by doubling the financial backing small businesses can receive.
The number of manufacturing loans has skyrocketed by 74% during President Donald Trump's first 100 days, backers of the Made in America Manufacturing Finance Act disclosed to Fox News Digital.
Advocates of the bill argue that by doubling the threshold for 7(a) and 504 loans aimed at small manufacturers that might struggle to borrow from conventional banks, these small businesses could invest more in their workforce and their products alike.
House Small Business Committee chairman Roger Williams, a Republican from Texas, shared his thoughts with Fox News Digital Wednesday. He, Sen. Joni Ernst, and Small Business Administration Administrator Kelly Loeffler are proud to collaborate on this legislation.
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"[W]e support America's small businesses, which comprise nearly 99% of all U.S. manufacturers," Williams told us.
"The Made in America Manufacturing Finance Act provides small business owners the capital they need to expand, modernize, and compete. We must continue to support and empower the job creators that keep our communities thriving."
Loeffler referenced "Liberation Day," the name Trump gave to April 2, the day most tariffs went into effect, stating that the new act will carry on the benefits of that framework in our pursuit of strengthening American enterprises.
"On Liberation Day, President Trump vowed to wage a battle for our businesses and workers by bringing back the jobs and supply chains that built this nation, and today, we're delivering," Loeffler said.
"The Made in America Manufacturing Finance Act will double SBA loan limits for small manufacturers, boosting the return of American industry by giving small businesses the capital they need to expand, hire, and compete."
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From left: Small Business Administration Administrator Kelly Loeffler, Sen. Joni Ernst, R-Iowa, and Rep. Roger Williams, R-Texas. (Getty)
Loeffler continued, extolling the value of products bearing the "Made in America" label.
Williams expressed the cooperation between the administration, the Senate, and the House as a promising sign of collaboration beyond the end of Trump's 100 days.
"Together, we will continue driving the America First Agenda forward, making the success of Main Street a top priority," Williams added.
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Ernst expressed her past warnings to the Biden administration about potentially exposing taxpayers to risk if the 7(a) program were expanded without proper safeguards. However, Ernst shared with Fox News Digital that small manufacturers are vital to the economy of her home state, Iowa.
"Today marks a significant stride in the resurgence of 'Made in America'," she said.
- Sen. Joni Ernst, Rep. Roger Williams, and Small Business Administration Administrator Kelly Loeffler are working together to strengthen American enterprises by doubling the SBA loan limits for small manufacturers through the Made in America Manufacturing Finance Act.
- The Made in America Manufacturing Finance Act, if passed, will provide small business owners the capital they need to expand, modernize, and compete, thus empowering job creators that keep communities thriving.
- By doubling the threshold for 7(a) and 504 loans aimed at small manufacturers, these small businesses could invest more in their workforce and their products alike, potentially enhancing the economic growth of industry-dependent states.
