Bill · H.R. 10375· House(119-HR-10375)
504 Modernization and Small Manufacturer Enhancement Act of 2026
- Introduced
- 9/14/2026
- Last activity
- 9/16/2026 — Ordered to be Reported by the Yeas and Nays: 23 - 0.
- Sponsored by
- Nydia Velázquez
- Cosponsors
- - 2 - 1
- Introduced
What this bill would do
The bill, known as the 504 Modernization and Small Manufacturer Enhancement Act of 2026, amends the Small Business Investment Act of 1958 to improve loan guaranty programs and help small manufacturers access capital. It updates policy goals for development company programs to include workforce development, disaster area revitalization, and small business expansion. The legislation also streamlines loan closing procedures by allowing certified lenders and designated attorneys to handle specific administrative tasks and corrections. Additionally, it sets new marketing requirements for the Small Business Administration and adjusts leasing rules for new and existing buildings involved in projects. Finally, it creates specific exemptions from certain credit availability requirements for these loans.
Yes· 3 of 7
Would business owners be better off under this?+8
The bill provides significant benefits including streamlined loan closings, increased leasing flexibility, and expanded support for very small businesses.
Does this make it easier to run a small business?+7
The bill enhances capital access by streamlining loan closing procedures and increasing leasing flexibility for new and existing facilities.
Is this likely to create jobs?+5
The bill promotes workforce development through work-based training requirements for small businesses.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
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Workforce Development Support: Section 2 adds workforce development through work-based or work-integrated training as a policy goal, which encourages small businesses to maintain documented in-house training programs lasting at least 12 weeks or contract with entities providing adequately trained applicants.
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Disaster Recovery Aid: Section 2 includes the aid and revitalization of disaster-declared areas as a priority policy goal for a five-year period, which helps communities recover by supporting small business projects in those regions.
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Smaller Business Support: Section 2 adds the expansion of small businesses with 10 or fewer employees as a specific policy goal, which focuses resources on the smallest employers.
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Streamlined Loan Closings: Section 3 allows accredited lender certified companies to take various administrative actions to facilitate loan closings, such as reallocating project costs up to 10 percent, making typographical corrections, and adding eligible passive or operating companies.
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Marketing and Outreach: Section 4 requires the Small Business Administration to develop and implement a marketing and outreach plan regarding loan availability, ensuring that small business owners are better informed about financing options.
Potential Negative Impacts for People
- Increased Administrative Burden for Leasing: Section 5 requires development companies to conduct annual examinations of certain small businesses and file anti-investor certifications to ensure they are not real estate development businesses, which imposes ongoing administrative oversight and reporting burdens.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Business Owners+8Good For Rural Residents+3Good For Low Income Households+2
- Economy And Finance
- Improves Small Business Support+7Increases Job Creation+5
- Environment Energy And Infrastructure
- Improves Disaster Relief And F E M A+5
- Social Issues And Justice
- Improves Affordable Housing+3
A committee approved it and sent it to the floor
What changed from Introduced in House: No change to the wording. Only the printed details that record the bill’s progress, such as the heading and dates, are different.
- 9/16/2026
- Committee Consideration and Mark-up Session Held
- Ordered to be Reported by the Yeas and Nays: 23 - 0.
- 2 Cosponsors added.
- 9/14/2026
- Referred to the House Committee on Small Business.
- 1 Cosponsor added.
- Introduced in House
Gilbert CisnerosDemocrat · California
Derek TranDemocrat · California
Roger WilliamsRepublican · Texas