Bill to increase investment in small manufacturing

U.S. Senators Tim Scott (R-S.C.), Chris Coons (D-Del.), and Cory Gardner (R-Colo.) introduced legislation today to increase investment in American small manufacturers. The Strengthening Investment to Grow Manufacturing in America (SIGMA) Act would support American manufacturers through increasing affordable loans, incentivizing operation growth, and expanding financial resources and education assistance to small manufacturers. A companion bill was introduced in the House . The SBA’s 7(a) and 504 loan programs assist small businesses by providing federally guaranteed loans for businesses. These loan programs, along with the SBA’s Small Business Investment Company, provide investment in America’s start-up manufacturers and growing businesses that have limited access to cash reserves. The SIGMA Act is supposed to spur additional investment for small manufacturing businesses in low- or moderate-income areas, rural areas, areas of high unemployment, and those that are veteran-owned, minority-owned, woman-owned, or are important to national security.