Summary:
74% increase in approvals for 7(a) manufacturing loans under Trump administration.
Over 1,120 loans approved in first 90 days of 2025, totaling $677 million.
Kelly Loeffler states small manufacturers are surging, signaling a manufacturing comeback.
SBA launched Made in America Manufacturing Initiative to cut regulations and boost jobs.
Approximately 98% of American manufacturers are small businesses, employing 4.8 million workers.
Small Business Administration Reports Growth in Manufacturing Loans
Small businesses are experiencing a remarkable increase in approvals for manufacturing loans this year, as highlighted by data from the U.S. Small Business Administration (SBA). This surge is a significant indicator of the revitalization of American manufacturing.
Key SBA Programs
The SBA's flagship program, the 7(a) business loan, provides entrepreneurs with opportunities to:
- Buy real estate
- Purchase machinery
- Obtain furniture and supplies
It guarantees up to 85% of loans of $150,000 or less, and 75% for loans above that amount.
Impressive Growth Statistics
Recent data reveals that 74% more business owners were approved for 7(a) manufacturing loans during the first 90 days of President Donald Trump’s administration compared to the same period under President Joe Biden in 2021. From January 20 to April 17, the SBA has approved over 1,120 7(a) manufacturing loans, totaling $677 million—a significant increase from fewer than 650 loans amounting to $497 million in 2021.
Insights from SBA Administrator
SBA Administrator Kelly Loeffler stated, "Loan applications and approvals for small manufacturers are surging — a clear sign that American manufacturing is roaring back."
Made in America Manufacturing Initiative
The SBA recently launched its Made in America Manufacturing Initiative, aiming to cut $100 billion worth of regulations for manufacturers and create a skilled workforce for manufacturing jobs.
Supporting Policies
To support this initiative, Trump is advocating for tax cuts, deregulation, and trade policies, including tariffs of up to 145% on imports from China and a blanket 10% tariff for other countries until July. As of now, Trump has indicated he might consider lowering tariffs on China.
Small Business Impact
According to the SBA's Office of Advocacy, about 98% of American manufacturers are classified as small businesses, employing 4.8 million U.S. workers. The SBA also provides additional financing options, including 504 loans up to $5.5 million and microloans up to $50,000.
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