The House returns for its lame-duck session with seven small-business bills on the agenda, including proposals to streamline SBA 504 loan closings, improve cybersecurity guidance for federal contractors and make disaster loan information more reliable. All seven cleared committee unanimously and would still need Senate approval if they pass the House.
The U.S. House returns to Washington this week with seven small-business bills on the agenda. The measures would change how the U.S. Small Business Administration (SBA) handles certain loan closings, help small contractors find cybersecurity guidance and give business owners more reliable information about disaster loans.
House leaders have listed the bills for consideration beginning Tuesday, Nov. 10, under suspension of the rules, a fast-track procedure that limits debate, bars floor amendments and requires a two-thirds vote for passage. All seven advanced unanimously out of the House Small Business Committee on Sept. 16.
Changes to SBA 504 loans
The 504 Modernization and Small Manufacturer Enhancement Act (H.R. 10375) would make the broadest changes of the seven bills. SBA’s 504 program offers long-term, fixed-rate financing for major purchases such as buildings and machinery. The bill would streamline closings by allowing accredited Certified Development Companies to make certain corrections and adjust how project costs are allocated. It would also exempt 504 financing from the requirement that applicants be unable to obtain credit elsewhere on reasonable terms.
The bill would revise occupancy and leasing rules for 504-financed properties. For example, qualifying small manufacturers building a new facility could initially occupy 50% of the project instead of the 60% generally required, subject to limits on how much space they can lease and a plan to occupy more over time. The changes would apply to covered loans made or guaranteed on or after Oct. 1, 2027, the start of fiscal 2028.
New resources for contractors and manufacturers
- Combating Foreign Threats to Main Street Act (H.R. 10329). SBA would develop guidance to help small businesses protect intellectual property, sensitive business information and supply chains from threats linked to foreign adversaries. The materials would also explain what to look for when considering foreign investments, joint ventures or licensing deals.
- Cybersecurity for Small Businesses Act (H.R. 10238). SBA would share guidance on strengthening cybersecurity and help small businesses pursuing federal contracts or subcontracts find resources on the Cybersecurity Maturity Model Certification (CMMC) program.
- Reshoring American Manufacturing Act (H.R. 9718). SBA would create a webpage for small firms looking to bring some or all of their manufacturing operations back to the United States. It would include a free tool to help businesses identify organizations that could assist with the move.
Clearer disaster loan information and more public reporting
- Disaster Loan Outreach Consistency Act (H.R. 10355). SBA disaster field offices would use standardized materials and verify loan terms and eligibility information before publishing fact sheets, press releases and other outreach. For owners weighing recovery options, that would mean more consistent information about who qualifies and what the loans offer.
- Ensuring SBA Implementation of GAO Recommendations Act (H.R. 10371). SBA would put procedures in place to comply with an existing annual reporting requirement. The report covers the needs of businesses owned by veterans and service-disabled veterans, which SBA programs are available to them and how often they use those programs.
- SBIC Reporting Modernization Act (H.R. 10353). SBA would publish quarterly reports on the private investment companies it licenses to finance small businesses. The reports would include licensing activity, the amount of SBA-backed financing issued and the number of jobs created or sustained by those investments.
What happens next
The unanimous committee votes give all seven bills a strong starting point in the House. Any bill that passes would still need Senate approval of the same text before it could go to the president. Measures that fall short of enactment by the end of the 119th Congress would have to be reintroduced in the next Congress to move forward.