# 116-hr-8211: 504 Modernization and Small Manufacturer Enhancement Act of 2020

116-hr-8211, 504 Modernization and Small Manufacturer Enhancement Act of 2020, is a 116th Congress bill sponsored by Rep. Craig, Angie [D-MN-2] (D-MN); status Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship. (as of 2025-11-18).

- Canonical: https://policyrisk.com/legislation/116-hr-8211
- As of: 2025-11-18
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 116-hr-8211
- Congress: 116
- Title: 504 Modernization and Small Manufacturer Enhancement Act of 2020
- Status: Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
- Introduced: 2020-09-11
- Sponsor: Rep. Craig, Angie [D-MN-2] (D-MN)
- Cosponsors: 3
- Policy area: Commerce
- Touches household money: no
- Last recorded action: 2025-11-18

## Summary

504 Modernization and Small Manufacturer Enhancement Act of 2020 This bill modifies the Small Business Administration (SBA) 504 Loan Program, which provides a small business with SBA financing—through a certified development company (CDC) intermediary—for expansion or modernization. Specifically, the bill adds policy goals, at least one of which a CDC must demonstrate to be eligible for assistance. These include (1) enhancing the ability of a small business to reduce costs by using energy efficient products and generating renewable energy, and (2) aiding the revitalization of any area for which a disaster has been declared or determined. The bill also authorizes a CDC to take specified actions to facilitate the closing of a 504 loan, such as correcting borrower or lender information on loan documents or reallocating up to 10% of the cost of a project, and it establishes an express loan closing program for a 504 loan that is less than $500,000. For small manufacturers, the bill (1) increases the maximum loan amount from $5.5 million to $6.5 million, (2) reduces the amount that they must contribute to project costs, (3) increases job retention requirements, and (4) revises collateral requirements and debt refinancing considerations. Further, each SBA district office must partner with a resource partner to provide certain training for small manufacturers.

## Cosponsors (3)

- Rep. Chabot, Steve [R-OH-1] (R-OH), 2020-09-11T00:00:00.000Z
- Rep. Taylor, Van [R-TX-3] (R-TX), 2020-12-02T00:00:00.000Z
- Rep. Pappas, Chris [D-NH-1] (D-NH), 2020-12-02T00:00:00.000Z

## Related bills

- 116-hr-4305: PAWS for Veterans Therapy Act
- 116-hr-3495: Improve Well-Being for Veterans Act
- 116-hr-2423: Women's Suffrage Centennial Commemorative Coin Act
- 116-hr-1570: Removing Barriers to Colorectal Cancer Screening Act of 2020
- 116-hr-1379: Ensuring Lasting Smiles Act
- 116-hr-943: Never Again Education Act

## Sources
- [116-hr-8211 on Congress.gov](https://www.congress.gov/bill/116th-congress/house-bill/8211)

## Related
- [116-hr-4305: PAWS for Veterans Therapy Act](https://policyrisk.com/legislation/116-hr-4305)
- [116-hr-3495: Improve Well-Being for Veterans Act](https://policyrisk.com/legislation/116-hr-3495)
- [116-hr-2423: Women's Suffrage Centennial Commemorative Coin Act](https://policyrisk.com/legislation/116-hr-2423)
- [116-hr-1570: Removing Barriers to Colorectal Cancer Screening Act of 2020](https://policyrisk.com/legislation/116-hr-1570)
- [116-hr-1379: Ensuring Lasting Smiles Act](https://policyrisk.com/legislation/116-hr-1379)
- [116-hr-943: Never Again Education Act](https://policyrisk.com/legislation/116-hr-943)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/116-hr-8211 (as of 2025-11-18).