SBA makes small-company loans faster and easier to get.
H.R. 10375 — 504 Modernization and Small Manufacturer Enhancement Act of 2026 · Filed by Nydia Velázquez (D-NY) · 3 cosponsors · Introduced Sep 14, 2026 · Reported out
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What it does
The bill changes how the Small Business Administration runs its 504 loan program. The program lends money to small companies to buy land, buildings, and tools. The bill lets lenders close loans faster. It gives small makers more freedom to lease space. It also tells the SBA to tell more people about the program. The changes aim to help small makers and companies in areas hit by disasters.
Who it affects
Small makers and small companies get easier access to loans. Companies in areas hit by disasters may find it easier to borrow money.
One thing to notice
Lenders can now make changes to loan deals at closing time without asking the SBA first. Small makers can use less of a building than other companies can.
From the analysis of the bill text, linked under Primary records below.
Where it stands
3 cosponsors: 2 Democrats, 1 Republicans.
- Sep 14, 2026 — Introduced · Congress.gov: “Introduced in House”
- Sep 14, 2026 — Referred to House Committee on Small Business · Congress.gov: “Referred to the House Committee on Small Business”
- Sep 16, 2026 — Markup held in committee · Congress.gov: “Committee Consideration and Mark-up Session Held”
- Sep 16, 2026 — Reported out of committee · Congress.gov: “Ordered to be Reported by the Yeas and Nays: 23 - 0”
Dates and quoted wording are Congress.gov's action record; the timeline shows status changes, not every procedural step.
Words to know
- 504 loan program — An SBA program that lends money to small companies to buy land and tools.
- lenders — Banks and groups approved by the SBA to make loans.
- Small Business Administration — A federal agency that helps small companies get loans and grow.
How this was measured
Analysis — Quorum's AI read the bill text published by Congress.gov (10,606 characters) on Sep 17, 2026. Section numbers in the findings refer to that text, linked below; transparency and hidden-provision scores are compared against the median of 16,928 analysed bills.
Status and sponsors — Congress.gov's bill record — actions, committee referrals and cosponsors — loaded nightly. The timeline shows status changes, not every procedural action.
As of — page rendered 2026-11-03.
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