Small Business Technological Advancement Act
S 2330, the Small Business Technological Advancement Act, expands eligibility for Small Business Administration (SBA) loans to cover business software and cloud computing services. It directly affects small businesses seeking to finance tools that manage payroll, human resources, sales, billing, inventory, or accounting operations. The bill amends Section 7(a) of the Small Business Act to explicitly allow SBA loans to partially or fully fund these technology services. This changes existing policy by broadening the types of business expenses covered under standard SBA loan programs.
Bill status
in committee
1 of 4 stages cleared
Introduction
Jul 2023
Committee Review
Floor Vote
President
Introduced Jul 18, 2023
Last action Jul 18, 2023
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
Jul 18, 2023
Committee
Read twice and referred to the Committee on Small Business and Entrepreneurship.
upper
Jul 18, 2023
Introduced
Introduced in Senate
upper
1 primary · 6 co-sponsors
Sponsors
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