Rep. Sykes Applauds House Passage of Legislation Supporting Small Manufacturers
WASHINGTON, D.C. – U.S. Representative Emilia Sykes (OH-13) praised the House of Representatives for passing the Made in America Manufacturing Finance Act, which will help small manufacturers secure larger Small Business Administration (SBA) loans to grow and invest in their businesses.
“This bill is a win for small manufacturers across the country and for my constituents in Ohio’s 13th Congressional District,” Rep. Sykes said. “By raising the loan limits, we are giving small businesses the tools they need to invest in new machinery, upgrade facilities, and grow their operations. Supporting these businesses strengthens our local economy, creates jobs, and ensures Ohio remains a leader in American manufacturing.”
Under current law, small manufacturers can access up to $5.5 million for fixed assets, and $5 million through SBA 7(a) loans. The Made in America Manufacturing Finance Act doubles both limits to $10 million, helping small manufacturers overcome financing barriers and expand operations.
“This legislation delivers real support to the hardworking men and women driving Ohio’s manufacturing sector forward,” Sykes added.