Manufacturing

SBA launches MARC loan program; first-ever loan program dedicated to American manufacturers

By Staff Report, posted 5 hours ago

On Wednesday, Sept. 3, the U.S. Small Business Administration (SBA) launched its first-ever loan program dedicated to supporting America’s small manufacturers, which make up 98% of all U.S. manufacturers. The 7(a) Manufacturer’s Access to Revolving Credit (MARC) Loan Program will offer working capital for small businesses engaged in manufacturing (NAICS 31-33), specifically designed to provide maximum flexibility and minimal red tape.

“With 98% of American manufacturers classified as small businesses, the new MARC Loans represent a powerful source of targeted capital for those who are growing our nation’s production,” said SBA Administrator Kelly Loeffler in a press release. “...this working capital program will empower manufacturers to create jobs, supercharge growth, and reshore American industrial might.”

The MARC Program expands SBA’s portfolio of loan programs by adding a new source of liquidity for small manufacturers, while offering lenders maximum flexibility to structure working capital loans. This provides more options to meet businesses’ unique working capital needs:

  • MARC lines may be structured as either a revolving line of credit or term loan.
  • The MARC is positioned to help growing manufacturers access flexible working capital as they scale their operations and take on new customers.
  • Loan funds may be used for any short-term working capital need of the manufacturer, supporting everything from inventory purchases to new projects.
  • MARC lines of credit can help manufacturers expand their working capital by leveraging the available equity of their existing facility or equipment.

The MARC Program complements the SBA’s core 7(a) and 504 loan programs, providing a flexible new line of credit to manufacturers and lenders. MARC Loans can be used in combination with SBA and conventional commercial loans, making it a potent new tool in support of the Administration’s effort to reshore American industrial dominance.

Under the leadership of Administrator Loeffler, the SBA previously announced its Made in America Manufacturing Initiative to empower small manufacturers with the tools they need. As part of this Initiative, the agency has committed to cutting $100 billion to promote workforce development, and doubling the 7(a) and 504 loan limit for manufacturing. More recently, SBA also launched its Make Onshoring Great Again Portal, a free tool designed to connect small businesses with a database of more than 1 million domestic suppliers and producers.

Complete details on the new MARC Loan Program will be posted at www.sba.gov. Training for SBA Lenders can be found on SBA’s lender Training on Demand web page.

Ico insights

INSIGHTS

SPONSORS' CONTENT

In The Current Issue

Building on the basics: Advanced Contractors Academy equips local firms to compete for government projects

The Advanced Contractors Academy, a free six-week program, is designed for established contractors ready to pursue larger-scale public contracts with agencies such as Fayetteville State University (FSU), Cumberland County and Cape Fear Valley Health.


Hungry for success: Local entrepreneur Kelton Battle is changing the vending machine game in North Carolina

Today, Hungry Snacks Vending operates 140 machines across North Carolina, with locations ranging from schools to public transit stations.


Too bright to dim: My Future So Bright program sees exponential growth during third year

 A total of 84 interns participated in this year’s My Future So Bright program. At the graduation ceremony held on Aug. 1, each student was able to receive their graduation certificates from Mid-Carolina Regional Council Executive Director Saman