Senators Marshall, Hickenlooper Introduce Bipartisan Legislation to Expand Access to Capital for Small Businesses

Washington – U.S. Senators Roger Marshall, M.D. (R-Kansas) and John Hickenlooper (D-Colorado) introduced the Investing in All of America Act of 2025, bipartisan legislation designed to expand access to capital for small businesses in rural and low-income communities, as well as those in the manufacturing and critical technology sectors.

The bill focuses on enhancing the role of Small Business Investment Companies (SBICs), privately managed firms licensed by the Small Business Administration (SBA), that raise private capital and leverage it with SBA-backed funds to invest in American small businesses. Currently, SBICs are subject to a leverage cap, which limits the amount of SBA-backed capital they can access based on how much private capital the firm has.

The Investing in All of America Act would exempt investments in rural or low-income areas, as well as those in the manufacturing and critical technology sectors, from the leverage cap. In turn, this move would enable more capital to flow to areas with limited access and support the growth of manufacturing and critical technology industries vital to U.S. competitiveness.

“Access to capital is essential for small businesses to grow and thrive, but far too often, rural and low-income communities across Kansas are left behind,” said Senator Marshall. “By excluding investments in these communities from the leverage that SBICs can access, we’re encouraging targeted investment where it’s needed most, all without costing taxpayers a dime.”

“Small businesses are the engine of our economy,” said Senator Hickenlooper. “But they often struggle to get the capital they need to create jobs. Our bipartisan bill will help small businesses in rural and low-income communities flourish.”

The legislation is supported by the Small Business Investor Alliance (SBIA).

“This legislation is a practical step toward revitalizing American manufacturing and ensuring small businesses have the capital they need to grow,” said SBIA President Brett Palmer. “By unlocking and incentivizing additional private investment in manufacturing, rural and low-income areas, and sectors critical to national security, this bill strengthens America’s economic competitiveness.  This is a no-cost, high-impact policy that supports job creation, economic resilience, and our national security.”

The full text of the legislation can be found HERE.

Background:

• SBIC-backed businesses have helped create over 3 million new jobs over the last two decades.
• In 2024, SBICs provided more than $8 billion in investment to small businesses nationwide.
• However, less than 20% of SBIC investments are aimed towards low to middle-income communities.  

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