H.R. 10352: 504 Program Level Flexibility Act

The 504 Program Level Flexibility Act (H.R. 10352) is a bill introduced in the House of Representatives on September 14, 2026, by Representative Lateefah Simon (D-CA), with co-sponsorship from Representative Mark Alford (R-MO). The bill aims to amend the Small Business Investment Act of 1958 to grant the Administrator of the Small Business Administration (SBA) the authority to increase the amount of loan commitments to qualified state or local development companies under the 504 Loan Program. Specifically, starting in fiscal year 2027, if the SBA Administrator determines that the annual limit on loan guarantees is likely to be exceeded, they may authorize commitments up to 115% of the normal limit for that year. This authority can be exercised only once per fiscal year and requires a 30-day notice to relevant congressional committees before implementation. The 504 Loan Program assists small businesses in financing major fixed assets like real estate and equipment through loans made by certified development companies, which are state or local nonprofit lenders working with the SBA.

H.R. 10352 was introduced in the 119th Congress by Lateefah Simon (Democrat) and is currently listed as “Reported by Committee”. It is classified under the Commerce policy area, one of 134 bills in that area we track this Congress.

Lateefah Simon is the sponsor of 4 bills in our database this Congress, so H.R. 10352 is part of a broader legislative agenda rather than a one-off proposal.

Our conflict-of-interest analysis rates H.R. 10352 2/10 (low risk), higher than 76% of analyzed bills; the average in Commerce is 2.1/10.

Supporters of the 504 Program Level Flexibility Act highlight its potential to enhance access to capital for small businesses, particularly in underserved areas. They argue that increased flexibility in funding could lead to more successful business outcomes and job creation, fostering economic growth.

Critics of the 504 Program Level Flexibility Act express concerns that increased flexibility could lead to mismanagement of funds or reduced oversight, potentially harming the integrity of the program. There are worries that without strict guidelines, the program could favor larger or less needy businesses at the expense of truly small enterprises.

The analysis of H.R. 10352, the 504 Program Level Flexibility Act, reveals no direct industry overlaps between the bill's subject matter and the sponsor Lateefah Simon's top donor industries. This lack of overlap suggests that the financial interests of the sponsor's donors do not directly influence the legislative agenda of this bill. Furthermore, without any significant financial ties to the specific provisions of the bill, it is unlikely that there are conflicts of interest that could sway the sponsor's decision-making. Voters should be aware that while campaign contributions can influence policy, in this case, the absence of overlapping interests indicates a lower risk of undue influence.