WASHINGTON, April 17, 2025 (GLOBE NEWSWIRE) -- Today, the U.S. Small Business Administration (SBA) announced a major surge in manufacturing loans during the first 90 days of the Trump Administration. Compared to the same period during the Biden Administration, the number of SBA 7(a) loan approvals for small manufacturers has increased by 74%.
The 7(a) loan program is SBA’s flagship program, a public-private partnership which offers government-guaranteed loans to help small businesses finance equipment purchases, real estate acquisition, working capital (including revolving credit lines), and business expansion. Since Jan. 20, 2025, SBA has approved over 1,120 7(a) loans for manufacturers with a total loan volume of $677 million. During the same period in 2021, SBA approved less than 650 7(a) loans for manufacturers with a total loan volume of $497 million. Nearly 99% of American manufacturers are considered to be small businesses.
“Loan applications and approvals for small manufacturers are surging – a clear sign that American manufacturing is roaring back, fueled by pro-growth policies that put American workers and businesses first,” SBA Administrator Kelly Loeffler said. “Thanks to President Trump’s agenda to restore economic and national security, SBA is helping to power an industrial comeback – meeting massive demand to help America’s small producers expand operations, create good-paying jobs, and restore our supply chains.”
Manufacturing has been on the rebound since President Trump took office, boosted by his pro-business agenda – including tax cuts, deregulation, energy independence and tariffs. The country gained 10,000 manufacturing jobs during President Trump’s first full month in office after losing more than 111,000 under President Biden in 2024.
Under Administrator Loeffler, the SBA has dedicated significant resources to support small manufacturers and workers. Last month, the agency announced its Made in America Manufacturing Initiative – a campaign to cut $100 billion in red tape, increase access to capital, and promote a skilled workforce. As part of this initiative, agency leaders have met with more than 150 small manufacturers across the country – holding roundtables and site tours on its Made in America Roadshow.
SBA guarantees numerous different types of loans to help small businesses and manufacturers start and grow their businesses. In addition to the 7(a) loan program, the agency also guarantees 504 loans – which provide long-term, fixed rate financing of up to $5 million for major fixed assets that promote business growth and job creation. Learn more about the loan surge in an exclusive interview with Administrator Loeffler.
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About the U.S. Small Business Administration
The U.S. Small Business Administration helps power the American dream of entrepreneurship. As the leading voice for small businesses within the federal government, the SBA empowers job creators with the resources and support they need to start, grow, and expand their businesses or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.
SBA HQ Press Team U.S. Small Business Administration press_office@sba.gov
