II 

117TH CONGRESS 

2D SESSION S. 3682 

To increase the loan limits under the business loan program and the 504 

loan program of the Small Business Administration for businesses principally engaged in agriculture, manufacturing, or production of critical 

and emerging technologies, and for other purposes. 

IN THE SENATE OF THE UNITED STATES 

FEBRUARY 17, 2022 

Ms. ERNST introduced the following bill; which was read twice and referred 

to the Committee on Small Business and Entrepreneurship 

A BILL 

To increase the loan limits under the business loan program 

and the 504 loan program of the Small Business Administration for businesses principally engaged in agriculture, manufacturing, or production of critical and 

emerging technologies, and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘American Small Busi5 ness Competition Act of 2022’’. 


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•S 3682 IS

1 SEC. 2. LOAN LIMITS. 

2 (a) BUSINESS LOAN PROGRAM.—Section 7(a)(3) of 

3 the Small Business Act (15 U.S.C. 636(a)(3)) is amend4 ed— 

5 (1) in subparagraph (A), by striking ‘‘subpara6 graph (B)’’ and inserting ‘‘subparagraphs (B) and 

7 (C)’’; 

8 (2) in subparagraph (B), by striking ‘‘and’’ at 

9 the end; 

10 (3) by redesignating subparagraph (C) as sub11 paragraph (D); and 

12 (4) by inserting after subparagraph (B) the fol13 lowing: 

14 ‘‘(C) if the total amount outstanding and 

15 committed (by participation or otherwise) to the 

16 borrower from the business loan and investment 

17 fund established by this Act would exceed 

18 $7,500,000 (or if the gross loan amount would 

19 exceed $10,000,000), for a small business con20 cern— 

21 ‘‘(i) that is principally engaged in ag22 riculture, manufacturing, or production of 

23 a technology listed on the Critical and 

24 Emerging Technologies List issued by the 

25 National Security Council, or any suc26 cessor thereto; 


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•S 3682 IS

1 ‘‘(ii) for which the headquarters of the 

2 small business concern is located in the 

3 United States; and 

4 ‘‘(iii) that includes in the application 

5 of the small business concern for the loan 

6 under this subsection information regard7 ing any foreign individual or entity that 

8 owns not less than 5 percent of the small 

9 business concern; and’’. 

10 (b) 504 LOAN PROGRAM.—Section 502(2)(A) of the 

11 Small Business Investment Act of 1958 (15 U.S.C. 

12 696(2)(A)) is amended— 

13 (1) in clause (i), by striking ‘‘or (v)’’ and in14 serting ‘‘(v), or (vi)’’; 

15 (2) in clause (iv), by striking ‘‘and’’ at the end; 

16 (3) in clause (v), by striking the period at the 

17 end and inserting ‘‘; and’’; and 

18 (4) by adding at the end the following: 

19 ‘‘(vi) $10,000,000 for each project of 

20 a small business concern principally en21 gaged in agriculture, manufacturing, or 

22 production of a technology listed on the 

23 Critical and Emerging Technologies List 

24 issued by the National Security Council, or 

25 any successor thereto.’’. 


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•S 3682 IS

1 SEC. 3. REPORT REGARDING ACCESS TO CAPITAL FOR 

2 SMALL BUSINESSES. 

3 Not later than 1 year after the date of enactment 

4 of this Act, the Administrator of the Small Business Ad5 ministration shall submit to Congress a report that— 

6 (1) provides a description of the effect of infla7 tion and supply chain disruption during the 3-year 

8 period ending on the date of enactment of this Act 

9 on the cost to small business concerns (as defined 

10 under section 3 of the Small Business Act (15 

11 U.S.C. 636)) of obtaining access to capital, 

12 disaggregated by industry; and 

13 (2) makes recommendations, in partnership 

14 with the Office of Advocacy of the Small Business 

15 Administration, on how to support access to capital 

16 for small business concerns involved in domestic 

17 manufacturing, agriculture, and production of tech18 nologies listed on the Critical and Emerging Tech19 nologies List issued by the National Security Coun20 cil, or any successor thereto. 

Æ 


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