The U.S. Small Business Administration (SBA) announced a significant increase in 7(a) loan approvals for small manufacturers during the first 90 days of the Trump Administration. According to data released April 17, the number of loans issued through the SBA’s flagship lending program has risen by 74% compared to the same period during the start of the Biden Administration.
Since January 20, 2025, SBA has approved more than 1,120 7(a) loans for manufacturers, totaling $677 million. By comparison, during the first 90 days of 2021, fewer than 650 loans were approved, amounting to $497 million in total loan volume. The 7(a) program provides government-backed financing for small businesses to fund equipment purchases, real estate, working capital, and business expansion.
“Loan applications and approvals for small manufacturers are surging – a clear sign that American manufacturing is roaring back, fueled by pro-growth policies that put American workers and businesses first,” said SBA Administrator Kelly Loeffler. “Thanks to President Trump’s agenda to restore economic and national security, SBA is helping to power an industrial comeback – meeting massive demand to help America’s small producers expand operations, create good-paying jobs, and restore our supply chains.”
Nearly 99% of American manufacturers are classified as small businesses, and the SBA continues to prioritize this segment of the economy through targeted initiatives and lending support.
The increase in lending activity coincides with the Trump Administration’s focus on domestic production. SBA attributes the growth in loan volume to pro-business measures such as tax cuts, deregulation, energy independence policies, and tariffs. The agency noted that 10,000 manufacturing jobs were gained during President Trump’s first full month in office, in contrast to the more than 111,000 jobs lost in the sector during 2024 under the previous administration.
In March, SBA launched the Made in America Manufacturing Initiative, a campaign aimed at reducing regulatory burdens, improving access to capital, and supporting workforce development in manufacturing. The agency stated that the initiative’s goal is to cut $100 billion in red tape and provide direct support to small producers.
This article, “SBA Reports Major Increase in Manufacturing Loans Under Trump Administration” was first published on Small Business Trends