SBA manufacturing loans surge, but Donald Trump supporters shouldn't declare victory just yet
Washington D.C.: The US Small Business Administration (SBA) has reported a significant increase in manufacturing loan approvals under the Trump administration, according to 'Entrepreneur'.
The flagship 7(a) business loan program saw a 74% higher approval rate in the first 90 days of Donald Trump’s presidency compared to the same period under the Biden-Harris administration in 2021. These loans help business owners purchase real estate, machinery, furniture, and supplies, with the SBA guaranteeing up to 85% of loans under $150,000 and 75% for larger amounts.
The focus on manufacturing stems from the SBA’s Made in America Manufacturing Initiative, launched in March 2025, which aims to cut $100 billion in regulations and boost skilled workforce development.
Between Jan. 20 and Apr.17, the SBA approved over 1,120 manufacturing loans totaling $677 million — nearly double the 650 loans approved in 2021. SBA Administrator Kelly Loeffler hailed the surge as evidence of a manufacturing revival, stating, “Loan applications and approvals for small manufacturers are surging—a clear sign that American manufacturing is roaring back.”
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However, the Biden-Harris administration also saw record small business growth, with 21 million new business applications filed during Biden’s term — the highest in history, according to Globe News Wire. Monthly filings averaged over 440,000, a 90% increase from pre-pandemic levels. Former SBA Administrator Isabel Guzman credited the administration’s efforts to provide resources for startups and small businesses to “start, grow, and thrive".
Nearly 98% of US manufacturers are classified as small businesses, employing 4.8 million workers.