Bill updates small-company loan program to help makers.
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's 504 loan program works. It adds job training as a goal. It makes the loan process faster for approved lenders. Small makers can now lease more space. The SBA must tell more small companies about the program.
Who it affects
Small-company owners and their workers get easier access to loans. Makers with 10 or fewer workers and companies in disaster areas get more help. Lawyers and loan companies that work with the SBA also see changes.
One thing to notice
The bill removes the rule that companies must prove they cannot get a loan from a bank. Some companies that could borrow from banks may now get government loans instead.
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 — A Small Business Administration program that lends money to small companies to buy land, buildings, or equipment.
- approved lenders — Banks or loan companies the government lets handle loan work faster without SBA review.
- job training — Classes that teach workers new skills for their jobs.
- disaster areas — Places hit by hurricanes, floods, or other disasters where the government helps companies rebuild.
How this was measured
Analysis — Quorum's AI read the bill text published by Congress.gov (10,492 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 14,358 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 2026-09-19.
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