118 S2330 IS: Small Business Technological Advancement Act U.S. Senate 2023-07-18 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

II118th CONGRESS1st SessionS. 2330IN THE SENATE OF THE UNITED STATESJuly 18, 2023Mr. Young (for himself, Ms. Rosen, Mr. Budd, and Mrs. Shaheen) introduced the following bill; which was read twice and referred to the Committee on Small Business and EntrepreneurshipA BILLTo authorize the Small Business Administration to provide business loans to finance business software or cloud computing services, and for other purposes.

1.

Short title

This Act may be cited as the Small Business Technological Advancement Act.

2.

Additional uses for Small Business Administration business loans

Section 7(a) of the Small Business Act (15 U.S.C. 636(a)) is amended by adding at the end the following:(38)

Business software or cloud computing

The Administration may provide loans under this subsection to finance, in whole or in part, business software or cloud computing services 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..