504 Modernization and Small Manufacturer Enhancement Act of 2026

This bill changes the Small Business Administration's 504 loan program, which helps small businesses finance buildings and equipment through certified development companies. It adds new program goals, including worker training programs of at least 12 weeks, rebuilding disaster areas, and growth of businesses with 10 or fewer employees. It lets accredited lenders make certain changes at loan closing, moves file review duties for some loans to the SBA's Office of Credit Risk Management, and sets requirements for designated attorneys who close loans. It also changes how much of a financed building a business may lease to tenants, with a lower occupancy requirement for small manufacturers, requires an SBA marketing plan, and exempts certain loans from the rule that borrowers show they cannot get credit elsewhere.

Full text and official record on Congress.gov

Sponsors

• Nydia M. Velázquez Democrat sponsor
• 3 cosponsors