The proposed bill, known as the 504 Modernization and Small Manufacturer Enhancement Act of 2024, seeks to amend the Small Business Investment Act of 1958 to make it easier for small manufacturers to get loans and reduce their costs. It introduces new policy goals, such as...
Simple Explanation
The 504 Modernization and Small Manufacturer Enhancement Act of 2024 is a plan that helps small factories get bigger loans to make more stuff, but it needs to be careful so money isn't wasted or used unfairly. It also wants to help more people learn and share how to run successful small businesses, especially ones owned by women and minority groups.