Small Business Administration Aims to Boost Manufacturing

Here’s a tip for small manufacturers thinking about expansion. The U.S. Small Business Administration is looking to make a big splash in manufacturing, with the announcement of the Made in America Manufacturing Initiative, according to a media release.
Nearly 99% of American manufacturers are small businesses, according to the release.
“The great American comeback starts with restoring American industry,” said SBA Administrator Kelly Loeffler, in the release. “With the Made in America Manufacturing Initiative, we’re slashing red tape, expanding access to capital, and fueling a manufacturing resurgence that will create high-paying jobs and revitalize communities across the country.”
As part of the Made in America Manufacturing Initiative, the SBA will cut $100 billion in regulation; launch a Red Tape Hotline for small business owners and manufacturers to share feedback and submit onerous regulations for review; deploy the newly announced Office of Manufacturing and Trade to offer small manufacturers dedicated resources and training in partnership with SBA field offices across the country; reduce barriers to access for the 504 Loan program, expand the use of the 7(a) Working Capital Pilot program; and promote a skilled manufacturing workforce by partnering with agencies, trade schools and private sector stakeholders to create a pipeline of skilled workers to support manufacturing.
As part of the initiative, representatives from the newly announced Office of Manufacturing and Trade will embark on a multistate Made in America Roadshow over the next two months, where they will hold roundtables to solicit feedback from small manufacturers across the country, according to the release.
