Small Business Administration Loan Approvals Are ‘Surging’

The U.S. Small Business Administration (SBA) released data that shows manufacturing loans, the 7(a) business loan, are being approved in big numbers under the Trump administration for small businesses, Entrepreneur reports. 

Seventy-four percent more business owners were approved for the flagship program in the first 90 days of President Donald Trump’s administration, in comparison to the first 90 days of the Biden-Harris administration in 2021. The loan gives business-owners the opportunity to buy real estate, purchase machinery, and receive furniture and supplies. It also guarantees up to 85% of 7(a) loans of $150,000 or less, and 75% of loans above $150,000.

Manufacturing being a target comes from the Made in America Manufacturing Initiative launched by the agency in March 2025 last month, with a goal to eliminate $100 billion worth of regulations to provide manufacturers with the  opportunity to create a pipeline of skilled workers to take on jobs.

Between Jan. 20 to Apr. 17, the SBA approved over 1,120 7(a) manufacturing loans, racking up a total of $677 million. SBA Administrator Kelly Loeffler called it a sign of growth. “Loan applications and approvals for small manufacturers are surging — a clear sign that American manufacturing is roaring back,” she said. The agency approved less than 650 loans back in 2021. 

However, the SBA was doing just as well when former President Joe Biden was in office. With 21 million new business applications filed during his term, Biden held the title of the most new business applications of any Presidential administration, according to Globe News Wire. The Biden-Harris Administration oversaw the fastest rate of new business applications on record, with an average of more than 440,000 applications being filed by  entrepreneurs every month. The numbers showed a rate over 90% faster than pre-COVID-19 averages. 

Former SBA Administrator Guzman labeled the numbers as the team being able to “meet small businesses and startups where they are with the resources they need to start, grow, and thrive.” 

A combination of tax cuts, deregulation, and trade policies such as tariffs up to 145% on imports from China, and a blanket tariff of 10% for other countries, is the way Trump has promoted his Made In America initiative. He highlighted his plans in his March 2025 Congress address. “As part of our tax cuts, we want to cut taxes on domestic production and all manufacturing,” Trump said. 

Deemed an important element of the economy, the SBA’s Office of Advocacy highlighted how close to 98% of American manufacturers are labeled as small businesses and employ 4.8 million U.S. workers as a whole.

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