Maximum flexibility and minimal red tape – those are the goals of the new Manufacturer’s Access to Revolving Credit or MARC Loan Program.
The loans offer working capital for the 98% of American manufacturers classified as small businesses, supporting job creation, growth and reshoring of industrial products, say SBA leaders.
The new MARC Program is designed specifically for small manufacturers like many in Michigan.
Great Lakes Regional Administrator Everett M. Woodel, Jr. says “This new SBA loan program provides a new source of flexible working capital that can be used to support everything from inventory purchases to new projects. Empowering manufacturers with the tools to grow will catalyze job creation and reshore American industrial dominance.”
Plans can be structured as either a revolving line of credit or term loan, and may be combined with conventional commercial loans.
The SBA is promoting its Made in America Manufacturing Initiative to empower small manufacturers with tools to lead the nation’s industrial comeback, promising to cut $100 billion in red tape, promote workforce development, and double loan limits for manufacturing.
The SBA also launched its Make Onshoring Great Again Portal, a free tool designed to connect small businesses with a database of more than a million domestic suppliers and producers.
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