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Small Business Technological Act of 2025
To authorize small business loans to finance access to modern business software, and for other purposes.
Summary
This bill amends the Small Business Act to expand the types of loans the Small Business Administration can provide under its standard loan program. The bill adds financing for business software and cloud computing services as an eligible use, including tools for accounting, payroll, human resources, sales, billing, inventory tracking, and artificial intelligence-based business tools. The amendment clarifies that it does not retroactively affect loans already made before the bill's enactment, does not authorize research and development loans, and does not change the existing definition of working capital under the law.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
- Sen. Young, Todd [R-IN] (R-IN)
4 cosponsors
- Sen. Budd, Ted [R-NC] (R-NC)
- Sen. Hickenlooper, John W. [D-CO] (D-CO)
- Sen. Rosen, Jacky [D-NV] (D-NV)
- Sen. Shaheen, Jeanne [D-NH] (D-NH)
Actions (3)
- May 21, 2025 Committee on Small Business and Entrepreneurship. Hearings held. · senate
- Jan 29, 2025 Read twice and referred to the Committee on Small Business and Entrepreneurship. · senate
- Jan 29, 2025 Introduced in Senate
More bills on these subjects (8)
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Similar bills (6)
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Full text
IN THE SENATE OF THE UNITED STATES
January 29, 2025
Mr. Young (for himself, Ms. Rosen, Mr. Budd, Mrs. Shaheen, and Mr. Hickenlooper) introduced the following bill; which was read twice and referred to the Committee on Small Business and Entrepreneurship
A BILL
To authorize small business loans to finance access to modern business software, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “Small Business Technological Act of 2025”.
SEC. 2. ADDITIONAL USES FOR SMALL BUSINESS ADMINISTRATION BUSINESS LOANS.
(a) In General.—Section 7(a) of the Small Business Act (15 U.S.C. 636(a)) is amended by adding at the end the following:
“(38) Access to modern business software.—The Administration may provide loans under this subsection to finance, in whole or in part, business software or cloud computing services, or any such technology, that facilitates business operations, product or service delivery, the processing, payment, or tracking of payroll expenses, human resources, sales and billing functions, or accounting or tracking of supplies, inventory, records and expenses, including business tools that utilize artificial intelligence.”.
(b) Rule of Construction.—Nothing in the amendment made by subsection (a) shall be construed to—
(1) provide that loans made under section 7(a) of the Small Business Act (15 U.S.C. 636(a)) before the date of enactment of this Act for the purposes described in paragraph (38) of such section 7(a), as added by subsection (a), were not permissible;
(2) authorize the use of loans made under section 7(a) of the Small Business Act (15 U.S.C. 636(a)) for research and development purposes; or
(3) limit the definition of working capital under the Small Business Act (15 U.S.C. 631 et seq.). <all>
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