Congress·In Committee·S. 1917

Congress targets more investment fund financing for rural, low-income, and critical tech small businesses

Investing in All of America Act of 2025

10 months ago·View on Congress.gov

⏸

Stalled

No legislative action in over 90 days.

Legislative Progress

Senate

House

President

Law

Key Points

Lets certain small business investment funds borrow more (get more leverage) without hitting their usual cap, as long as the money goes to rural areas, low-income areas, critical technology businesses, or small manufacturers.
Sets limits on how much extra can be excluded from the leverage count: the smaller of 50% of the fund’s private capital or $125 million, and it only applies to new investments after the law takes effect.
Updates some maximum leverage dollar limits, including a $175 million figure for a single fund and a $350 million figure for commonly controlled funds, with different treatment based on payment structure.
Requires the Small Business Administration’s Administrator to adjust certain dollar limits over time based on changes in consumer prices (inflation), with an exception for a specific type of investment fund structure.
Expands what can count as “private capital” for approval purposes (including some college or university foundations/endowments/trusts) and clarifies that most government-sourced funds don’t count as private capital.

Small BusinessTechnologyEconomy

Impact Analysis

Personal Impact

How this policy affects specific groups of people

Positive Impacts(4)

Small Business Owner

Helps

Gig Worker

Helps

Farmer Rancher

Helps

Union Member

Helps

Milestones

2 milestones2 actions

May 22, 2025Senate

Read twice and referred to the Committee on Small Business and Entrepreneurship.

May 22, 2025

Introduced in Senate

What Happens Next

Projected impacts based on AI analysis

Right after the date the bill is enacted

New leverage-limit exclusion applies only to new investments made after the bill becomes law.

If you own a qualifying small business, the change won’t help with past investments—only future fundraising rounds after enactment could benefit from SBICs having more room to invest.

Within months after enactment

SBA updates SBIC leverage calculations and begins applying the new caps and exclusion limits.

SBICs and the small businesses they fund may see new deal terms and underwriting as SBICs adjust to the updated leverage limits and the $125 million/50% exclusion cap.

At enactment, once SBA calculates the CPI adjustment

SBA applies the one-time CPI-based adjustment to the dollar limits at enactment (with different lookback periods for different limits).

The headline dollar limits (like $175 million and $350 million) could bump up based on inflation math, which can slightly change how much SBIC financing is available overall.

Related News

5 articles

Small Business Investor Alliance (SBIA)·4 months ago

SBIA Applauds House Passage of the Investing in All of America Act

Trade association reaction to House passage of H.R. 2066, describing SBIC leverage-cap exclusions for rural/low-income, critical tech, and manufacturing investments and emphasizing no new federal spending.

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International Economic Development Council (IEDC)·3 months ago

U.S. House Passes Five SBA-Related Bills

Roundup of SBA-related bills passed Dec. 1, 2025, including H.R. 2066 (Investing in All of America Act of 2025) and its SBIC leverage-limit exclusions and updated caps.

The Well News·9 months ago

Closing the Capital Gap in Rural America Is Possible

Opinion piece arguing the Investing in All of America Act would expand SBIC investment in rural areas; discusses the program and why leverage incentives could shift capital beyond major metros.

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