I 
117TH CONGRESS 
2D SESSION 
H. R. 6975 
To amend the Small Business Act to establish a rural manufacturing 
forgivable loan program, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
MARCH 8, 2022 
Mr. RODNEY DAVIS of Illinois (for himself, Mr. O’HALLERAN, Mr. JOHNSON 
of Ohio, Ms. SCHRIER, and Mr. CRAWFORD) introduced the following bill; 
which was referred to the Committee on Small Business 
A BILL 
To amend the Small Business Act to establish a rural manu-
facturing forgivable loan program, and for other pur-
poses. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Rural Investment in 
America Act’’. 
SEC. 2. RURAL MANUFACTURING LOANS. 
(a) IN GENERAL.—Section 7(a) of the Small Busi-
ness Act (15 U.S.C. 636(a)) is amended— 
(1) in paragraph (2)— 
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(A) in subparagraph (A), by striking ‘‘and 
(F)’’ and inserting ‘‘(F), and (G)’’; and 
(B) by adding at the end the following new 
subparagraph: 
‘‘(G) PARTICIPATION IN RURAL MANUFAC-
TURING LOANS.—In an agreement to partici-
pate in a loan on a deferred basis under para-
graph (38), the participation by the Adminis-
tration shall be 100 percent.’’; and 
(2) by adding at the end the following new 
paragraph: 
‘‘(38) RURAL MANUFACTURING LOANS.— 
‘‘(A) IN
GENERAL.—The Administrator 
may guarantee a loan made under this para-
graph to a covered applicant for the purpose of 
paying any eligible costs associated with the de-
velopment of a business concern that manufac-
tures goods essential to critical infrastructure 
sectors in rural areas. 
‘‘(B) APPLICATION.—A covered applicant 
shall submit an application for a loan under 
this paragraph which shall include a com-
prehensive business plan that includes a goal 
for the resulting number of jobs to be created 
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at the site that will be developed or expanded 
with the proceeds of such loan. 
‘‘(C) LOAN FORGIVENESS.—A covered ap-
plicant shall be eligible for forgiveness of any 
indebtedness on a loan made under this para-
graph as follows: 
‘‘(i) If the covered applicant has met 
75 percent or more of the job creation 
goals of the comprehensive business plan 
described in subparagraph (B) not later 
than 5 years after the date of origination 
of the loan. 
‘‘(ii) If the Administrator makes a de-
termination that the covered applicant only 
used loan proceeds for eligible costs, the 
covered applicant shall receive loan forgive-
ness in an amount— 
‘‘(I) less than or equal to an 
amount that is 50 percent of the total 
financing amount specified by the cov-
ered applicant; and 
‘‘(II) less than or equal to max-
imum amount allowable under para-
graph (3)(A). 
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‘‘(D) IDENTIFICATION
OF
ADDITIONAL 
CRITICAL INFRASTRUCTURE SECTORS.— 
‘‘(i) STUDY.—Not later than 180 days 
after the date of enactment of this para-
graph, the Administrator shall complete a 
study to identify any additional sectors to 
be included in the definition of the term 
‘critical infrastructure sector’ under this 
paragraph. 
‘‘(ii) PROVISION OF LOANS PRIOR TO 
COMPLETION
OF
STUDY.—The Adminis-
trator may guarantee a loan made under 
this paragraph before the completion of the 
study required under clause (i). 
‘‘(iii) ADDITIONAL
CRITICAL
INFRA-
STRUCTURE SECTORS.—The Administrator 
may, at any time, take such actions as are 
necessary to identify additional sectors to 
be included in the definition of the term 
‘critical infrastructure sector’ under this 
paragraph. 
‘‘(E) DEFINITIONS.—In this paragraph: 
‘‘(i) COVERED APPLICANT.—The term 
‘covered applicant’ means a business 
that— 
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