Ranking Member Edward J. Markey (D-Mass.) and committee Democrats made significant strides for small businesses during a recent Small Business and Entrepreneurship Committee meeting. Following votes on four crucial bills, small business owners across the country may soon see enhanced opportunities to access capital and secure contracts that are essential for growth.
Markey expressed optimism in his opening remarks, highlighting the importance of these legislative efforts for the 34 million small businesses in the United States. "I am happy we were able to come to an agreement that will provide new opportunities for small businesses to access capital and obtain contracts that will help them grow and create good jobs," he noted. He also acknowledged the ongoing challenges posed by the Trump Tariffs, emphasizing that uncertainty around retaliatory tariffs creates a difficult environment for businesses to plan for the future.
The following proposed legislation was reported out of committee, promising to deliver tangible benefits for small business owners:
The Expanding the Surety Bond Program Act of 2025 aims to increase the cap on surety bonds while streamlining the application process for the Small Business Administration (SBA) Surety Bond Guarantee Program. This initiative will open the door for small contractors to access federal, state, local, and private contracts that might have been out of reach otherwise. Jen Earle, CEO of the National Association of Women Business Owners (NAWBO), endorsed the bill, stating, “Women business owners across America are using federal government contracts to expand and grow their businesses. NAWBO supports this effort to help grow contracting opportunities for women business owners.”
Another pivotal piece of legislation is the Made in America Manufacturing Finance Act of 2025, which has been modified to increase the loan limit for manufacturing loans to $10 million, doubling the current cap of $5 million for the SBA’s 7(a) Loan Program and $5.5 million for the 504 Loan Program. Ranking Member Markey’s modifications ensure that the new higher loans will not jeopardize the existing programs and will focus on creating and retaining manufacturing jobs—a significant concern for many small business owners in manufacturing sectors.
The SBA Fraud Enforcement Extension Act introduces a ten-year statute of limitations for criminal and civil violations tied to grants provided under the Shuttered Venue Operators Grant (SVOG) program and the Restaurant Revitalization Fund (RRF) program. This legislation also updates the statute of limitations extensions for the Paycheck Protection Program (PPP) and the COVID-19 Economic Injury Disaster Loan (EIDL) program, potentially providing small business owners with greater legal clarity and security surrounding their funding options.
Lastly, the Rural Small Business Resilience Act mandates that the SBA Office of Disaster Recovery and Resilience ensures full access to disaster assistance for individuals in rural areas that have declared disaster zones. This move could be particularly beneficial for rural small business owners, who often face unique obstacles in accessing timely assistance during crises.
While these changes promise exciting potential for small business owners, they come with challenges that warrant consideration. The impact of ongoing tariffs and geopolitical tensions adds a layer of uncertainty for business owners seeking to expand. For many, making long-term plans requires confidence in the marketplace, which the current climate lacks.
Overall, these legislative efforts signal a commitment to fostering an environment conducive to small business growth. With enhanced access to financing and contracts, business owners can better navigate the challenges posed by current economic conditions. However, the road ahead requires careful planning and continued adaptation to ensure long-term sustainability in an ever-changing landscape.
For more detailed information, you can view the original press release here.
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