Historical news from December 2025, reviewed September 7, 2026. Use the current MARC guide and October 2026 update for terms applicable to a new application.
What SBA announced on December 17, 2025
SBA announced its first MARC approvals: $3.5 million in working capital for four manufacturers. The announcement identified a $1.5 million line for a welding and fabrication business and a $250,000 facility for a porcelain enamel manufacturer. It did not identify every borrower or give every loan amount.
Community and regional banks originated the first facilities. The announcement established that MARC lending had begun; four approvals do not establish that every lender offers the program or that a particular applicant will qualify.
What a manufacturer can take from this milestone
Ask a prospective lender whether it originates MARC, which facility structures it supports and what financial reporting it requires. Provide a cash-flow forecast showing when inventory and labor costs occur and when customers pay. A program announcement is not a commitment to lend.
MARC addresses working capital. Fixed assets need a separate eligible financing structure. Compare the 7(a) and 504 uses-of-funds table before combining equipment, property and operating cash into one request.
Use current policy when applying
The rules at launch are not a substitute for the rules on the approval date. The October 2026 MARC guide explains changes in structure, eligibility and repayment tests. The application checklist helps organize ownership records, financial statements and the debt schedule.
MARC is excluded from the FY2026 manufacturer upfront 7(a) fee waiver. Check the FY2026 and FY2027 fee guide for effective dates and product exclusions; a manufacturer label does not by itself make a loan fee-free.
Keep legislative proposals separate from available financing
The December 2025 House-passed manufacturing finance proposal is a separate legislative milestone. Do not treat its proposed limits as an approved loan offer. The current capital-stacking guide explains how eligible facilities can be coordinated under the applicable SBA rules.
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