Summary

Amends the SBA 504 (Title V) program to add workforce-development and new program goals, tighten support for small manufacturers, authorize accredited lender-certified CDCs to make limited loan-closing adjustments, shift file-review responsibility to the SBA Office of Credit Risk Management, and impose new leasing limits and district-office training requirements for Title V assistance. Several technical and wording changes are included to align statutory cross-references, change minor dollar/wording items, and require a 5‑year report to Congress on leasing changes. Overall the bill aims to speed closings, expand explicit support for very small and manufacturing businesses, require district offices to partner on training for manufacturers, and restrict how much Title V project space assisted businesses may permanently lease to third-party tenants.

Key Points

• Adds a workforce-development requirement and new program goals (energy efficiency, disaster-area revitalization, support for businesses with ≤10 employees).
• Allows accredited-lender certified CDCs limited authorities to correct or reallocate certain loan-closing items to speed closings and reduce delays.
• Shifts post‑closing file-review responsibility to the SBA Office of Credit Risk Management and removes district counsels’ formal role in closing-package reviews; establishes rules for designated attorneys to certify closings.
• Changes contribution (down payment), collateral, and guaranteed‑debenture limits for small manufacturers, including a 50% cap on guaranteed debentures for manufacturing projects.
• Requires each SBA district office to partner with at least one approved resource partner to provide training to small manufacturers on applying for Title V assistance and working with development companies.
• Imposes new limits and conditions on how much of a Title V project an assisted small business may permanently lease to third-party tenants; includes different rules for new construction versus existing buildings.
• Makes technical wording and cross-reference edits to improve statutory clarity and updates at least one dollar amount.
• Requires SBA to report to Congress within five years on the leasing amendments’ effects.

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