Small Business Technological Advancement Act
In committeeSmall Business Technological Act of 2025 This bill authorizes the Small Business Administration (SBA) to finance under the 7(a) loan program business software or cloud computing services that facilitate business operations, product or service delivery, payroll processing, human resources functions, sales and billing functions, or accounting or tracking of inventory. Such software or services include business tools that utilize artificial intelligence. The 7(a) loan program is the SBA's primary business loan program that provides loan guaranties for participating lenders to provide financing to small businesses that are otherwise unable obtain reasonable credit terms.
Jul 13, 2026Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
Passed
The Small Business Technological Advancement Act authorizes loans for small businesses to access modern business software and cloud computing services. It aims to enhance business operations and efficiency by expanding the permissible uses of Small Business Administration loans. The bill is straightforward in its scope and purpose, focusing on technological advancement for small businesses.