Congresswoman Simon Introduces Bill to Improve Small Business Loan Flexibility, Support East Bay Businesses and Entrepreneurs

September 18, 2026 Press Release WASHINGTON, D.C. – This week, Congresswoman Lateefah Simon (CA-12) and Congressman Mark Alford (MO-4) introduced the 504 Program Level Flexibility Act, a bill that would allow the Small Business Administration (SBA) to increase the 504 loan program’s annual lending limit by up to 15 percent once per fiscal year. The SBA’s 504 loan program grants long-term, fixed-rate loans of up to $5.5 million to support investments in assets such as buildings, land, machinery, and equipment. This program is a critical tool for helping entrepreneurs start, grow, and invest in their businesses by making major fixed-asset investments more affordable. In July 2021, the SBA alerted Congress that the 504 loan program was projected to reach its Fiscal Year 2021 program level limit, which would have forced the program to shut down lending until the next fiscal year. The 504 Program Level Flexibility Act would help prevent future program shutdowns by providing flexibility to prevent the program from being exhausted during periods of heightened loan demands, such as pandemics or recessions, authorizing the SBA to increase the program level by up to 15 percent with at least 30 days’ notice to Congress. “When the cost of doing business rises, the impacts fall hardest on our small businesses. Ensuring that the Small Business Administration can adapt to loan demand when the need for financing is high ensures that entrepreneurs are never turned away when they need help the most,” said Congresswoman Simon . “I am proud to introduce this bipartisan legislation with my colleague Congressman Mark Alford to provide loan limit flexibility and make the 504 loan program more resilient.” In California’s 12 th Congressional District, this bill could help preserve access to long-term, affordable financing for small local businesses who are looking to either purchase or improve commercial property. This is especially important as East Bay businesses continue to navigate high commercial real estate costs and a broader affordability crisis that makes it increasingly difficult to establish and sustain a local business. Issues : Economy and Small Business