H.R. 10375
504 Modernization and Small Manufacturer Enhancement Act of 2026
Summary:
• The bill, titled the "504 Modernization and Small Manufacturer Enhancement Act of 2026," amends the Small Business Investment Act of 1958 to improve the 504 loan guaranty program, including adding new policy goals such as workforce development, disaster area revitalization, and support for small businesses with 10 or fewer employees
• The bill streamlines 504 loan closing procedures by allowing accredited lender certified companies to make certain administrative adjustments and establishing designated attorneys at Priority certified development companies to handle expedited loan closings
• The bill modifies leasing rules for assisted small businesses, allowing up to 20% leasing for new facilities (with reduced occupancy requirements for small manufacturers) and up to 50–66% leasing for existing buildings under specific conditions
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• The bill streamlines 504 loan closing procedures by allowing accredited lender certified companies to make certain administrative adjustments and establishing designated attorneys at Priority certified development companies to handle expedited loan closings
• The bill modifies leasing rules for assisted small businesses, allowing up to 20% leasing for new facilities (with reduced occupancy requirements for small manufacturers) and up to 50–66% leasing for existing buildings under specific conditions
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