The U.S. Small Business Administration announced on August 14, 2026, a new 90% federal loan guarantee for small businesses operating across the full American energy supply chain. The measure takes effect immediately and explicitly includes uranium mining, making it directly relevant to the nuclear fuel supply chain.
The program, called the 90% Energy Guarantee, operates through the existing International Trade Loan (ITL) Program. The guarantee covers 90% of the loan value, compared to the standard 75% offered under the regular 7(a) program. Participating banks therefore carry a significantly lower residual risk, which translates directly into more accessible credit for businesses that would otherwise struggle to secure financing on competitive terms. Loan amounts can reach up to $5 million, with repayment terms of up to 25 years.
Among the eligible NAICS codes is 212291 — Uranium-Radium-Vanadium Ore Mining, which covers uranium ore extraction activities. Also included are businesses involved in energy production and distribution, grid modernization, and the manufacturing of components and equipment. The program’s scope is broad: it spans both the upstream mining segment — essential for securing reactor fuel — and downstream activities along the supply chain.
This initiative is part of a broader strategy already set in motion in recent months. Since May 2026, the SBA has deployed $110 million through its 90% guarantee for Made in America manufacturing, and another $82 million through a dedicated guarantee for the food sector. The approach is consistent: use public leverage to channel private capital into sectors deemed strategic by the Trump administration. Energy now represents the third pillar of this preferential financing strategy.
For the U.S. nuclear industry, the signal is clear. Small businesses in uranium mining have historically struggled to access conventional bank lending, due to the perceived risk associated with the sector and the long investment cycles inherent to mining operations. A 90% federal guarantee meaningfully lowers that barrier, potentially unlocking new investment in deposits that have sat idle for lack of capital. The United States still depends heavily on imported uranium, and strengthening domestic production is a key strategic objective that this measure helps advance.
If the program delivers the expected results, the coming months could see a growing number of small mining companies and energy service providers entering the ITL program. For American nuclear energy, building a more robust domestic supply chain — starting with fuel — is a prerequisite for sustaining both existing reactors and the new generation of advanced reactors and small modular reactors currently under development.
