Bill would streamline SBA 504 loans and expand eligible projects
In markupH.R. 10375Latest action
Sponsor: Nydia M. Velázquez · Representative · NY
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Official title: 504 Modernization and Small Manufacturer Enhancement Act of 2026
119th Congress
Topics: Jobs & the economy
Introduced:
Read the official bill on Congress.govIn plain words
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The bill updates SBA's 504 loan program rules, easing paperwork and expanding what projects qualify for financing.
35-second read · 4 questions answered below
What does this do?
This bill changes the SBA's 504 loan program by adding new eligible project types, such as workforce training, disaster recovery, and support for very small businesses. It also simplifies paperwork for minor loan corrections, speeds up closings for experienced lenders, requires SBA to promote the loans, and adjusts rules on renting out purchased buildings to tenants.
Who does it affect?
Small business owners, especially small manufacturers seeking property or equipment loans, plus Certified Development Companies (nonprofit lenders) and SBA staff who manage the program.
Why does it matter?
Simplifying paperwork and eligibility rules could speed up loan approvals, while added oversight aims to prevent misuse of the program for real estate investment rather than business operations.
AI-drafted summary. Check it against the official text before you act on it.
Based on the “Introduced in House” text of Sep 14, 2026.
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Where does it stand?
- IntroducedSep 14, 2026
- House committeeYou are here · Sep 16, 2026
- House vote
- Senate
- The president's desk
Right now: a House committee is reviewing it. If the Senate changes it, it goes back to the House before reaching the president.
Latest action: — Ordered to be Reported by the Yeas and Nays: 23 - 0.