Allows Small Business Administration 7(a) loans to be used to pay for business software, cloud computing services, and AI-based business tools that handle operations, payroll, billing, inventory, or records.

Official title: Small Business Technological Advancement Act

Next stop Senate: awaiting action

Timeline each lane is a chamber; dates pull from congress.gov actions

House

Introduced 04-FEB-2025

Referred 04-FEB-2025

Approved by committee 20-MAY-2026

Reported 03-JUN-2026

On the calendar 03-JUN-2026

Passed 24-JUN-2026

Senate

Received 13-JUL-2026

Key points

Adds a new paragraph (38) to Section 7(a) of the Small Business Act authorizing SBA loans to finance business software, cloud computing, and related technology
Covers tools for operations, product or service delivery, payroll, human resources, sales and billing, and tracking of supplies, inventory, records, and expenses, including artificial intelligence tools
States that the change does not make earlier loans for these purposes impermissible, does not allow 7(a) loans for research and development, and does not limit the definition of working capital

AI-generated from the Referred in Senate text of 13-JUL-2026 · verify · report an error

Official CRS summary

Covers an older version. The newest CRS summary describes the bill as of "Reported to House" (03-JUN-2026); the text has changed since (Engrossed in House, 24-JUN-2026).

CRS is the Library of Congress's nonpartisan research office. Read it on congress.gov

Committee referrals (2)

Small Business Committee (House)
Small Business and Entrepreneurship Committee (Senate)

Policy area

Commerce

Sponsor Mark Alford (R-MO) Cosponsors · 3

■ 3 D

3 Democrats

congress.gov page Referred in Senate (13-JUL-2026) Engrossed in House (24-JUN-2026) Reported in House (03-JUN-2026) Introduced in House (04-FEB-2025) House: On motion to suspend the rules and pass the bill, as..., 414-4, 24-JUN-2026