Kelly Loeffler has taken the helm as Administrator of the Small Business Administration, with her appointment set to become effective on February 19, 2025. Even before officially stepping into the role, Loeffler is already making an impact on small business policy and lending initiatives.

One of the most significant recent developments involves the Made in America Manufacturing Finance Act, which the House of Representatives recently passed as part of a broader package of bipartisan small business support legislation. Loeffler has publicly applauded this measure, which doubles the Small Business Administration's loan limit from five million dollars to ten million dollars for small manufacturers. This increase is designed to help domestic manufacturers access substantially more capital to grow their operations and invest in equipment and expansion.

The legislation represents one of five bipartisan bills that received House approval, all aimed at strengthening small business support across the country. The package addresses rural development, fraud prevention, information technology modernization, and expanded opportunities for entrepreneurs in every corner of America.

Beyond the manufacturing finance initiative, Loeffler's leadership has extended to scrutinizing the Agency's eight-a program, which provides contracting opportunities for disadvantaged small businesses. Senator Joni Ernst has praised Loeffler's commitment to auditing this program, citing concerns about fairness and potential fraud. The Senator has proposed legislation that would temporarily halt all eight-a sole source contract awards until a comprehensive audit is completed and submitted to Congressional committees.

In fiscal year 2025, the Small Business Administration guaranteed a record 84,400 loans totaling 45 billion dollars, demonstrating strong demand for capital among job creators and business owners preparing to invest and expand. The Agency also unlocked five billion dollars for small businesses following a temporary shutdown, helping to ensure that entrepreneurs could access critical funding.

Loeffler's approach emphasizes modernizing the Agency's operations, strengthening oversight of existing programs, and expanding access to capital for manufacturers and small business owners in rural communities. Her focus on both increased lending capacity and program accountability signals a commitment to supporting small businesses while maintaining fiscal responsibility and preventing fraud within the Agency's lending and contracting programs.

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