504 Modernization and Small Manufacturer Enhancement Act of 2026

This bill makes changes to a Small Business Administration loan program called the 504 Loan Program, which helps small businesses get financing to expand or update their operations. It adds new goals the program can support, like workforce training and helping areas recover after a disaster. The bill also makes it easier to process these loans by letting the companies that handle them fix paperwork errors and shift some project costs around. It lets small businesses that renovate buildings with these loans rent out up to 66% of the building to other tenants, as long as certain conditions are met, and it removes a requirement that loan companies prove they couldn't get funding somewhere else.

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