U.S. Small Business Administration (SBA) lending to manufacturers increased 16.7% last year, according to new federal data, a notable jump at a time when higher interest rates and tighter credit conditions have made borrowing more difficult for many businesses.

The growth reflects expanded use of the SBA’s 7(a) and 504 loan programs by small and mid-sized manufacturers to finance equipment purchases, facility improvements and working capital. The data also point to early adoption of newer SBA tools designed to improve access to revolving credit for capital-intensive operations.

Access to predictable financing is especially important for smaller manufacturers in states such as Ohio, where firms often weigh modernization plans against energy costs, permitting timelines and workforce investments. As economic uncertainty persists, reliable capital programs continue to play an important role in supporting manufacturing growth and job creation. 1/22/2026