Small Business Technological Advancement Act

What this does

This bill lets the Small Business Administration lend for technology. It amends Section 7(a) of the Small Business Act to add a new permitted use, so SBA 7(a) loans may finance business software, cloud computing services, or related technology. Covered tools include those that handle operations, product or service delivery, payroll, human resources, sales and billing, and accounting or inventory tracking. The text names business tools that use artificial intelligence as eligible. The bill does not authorize using these loans for research and development. It does not change the definition of working capital, and it does not declare that earlier 7(a) loans made for these purposes were improper.

House vote · 414-4

Democrats208–0

Republicans205–4

Independents1–0

How we know · 7 sourced claims

The bill amends Section 7(a) of the Small Business Act to permit SBA loans to finance business software, cloud computing services, or related technology.Source: Sec. 2(a), adding paragraph (38) to Section 7(a) of the Small Business Act (15 U.S.C. 636(a))
Covered uses include operations, product or service delivery, payroll, human resources, sales and billing, and accounting or inventory tracking.Source: Sec. 2(a), new paragraph (38) 'Access to modern business software'
The text names business tools that use artificial intelligence as eligible.Source: Sec. 2(a), new paragraph (38): 'including business tools that utilize artificial intelligence'
The bill does not authorize using these loans for research and development.Source: Sec. 2(b)(2), rule of construction
The bill does not limit the definition of working capital under the Small Business Act.Source: Sec. 2(b)(3), rule of construction
The bill does not declare that earlier 7(a) loans made for these purposes were impermissible.Source: Sec. 2(b)(1), rule of construction
The bill carries only two sections, a short title and a single amendment with a rule of construction, and contains no unrelated rider.Source: Sec. 1 (short title) and Sec. 2 (the sole amendment); no other operative sections in the text

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Your representatives

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House roll call

The full roll call

R205–4D208–0I1–0

Position

Party

State

Republicans

218

Democrats

212

Independents

YeaKevin KileyCA · District 3