Small Business Technological Advancement Act

Floor Speech

Mr. Speaker, I rise in support of H.R. 915, the Small Business Technological Advancement Act of 2025.

Small businesses are increasingly using digital tools to support their day-to-day work. The use of these tools has only accelerated since the COVID-19 pandemic and has produced many positive outcomes. Digital tools have been shown to improve small business job creation, revenue growth, and forecasting certainty.

Small businesses have reported that the largest barrier to these innovative tools is the cost. It is important that the SBA support businesses in addressing this challenge so that they can continue adopting the digital tools that they need to work efficiently, support commerce, and create jobs in communities across the country.

The SBA's flagship 7(a) loan program provides small businesses with working capital that can be used to finance the purchase of digital tools. Last June, the SBA further clarified that 7(a) loans could be used to finance business software or cloud computing services. However, some businesses have still reported uncertainty about using 7(a) loans for these purposes.

This bill eliminates that confusion and ensures consistency across administrations by confirming in statute that 7(a) loans can be used to finance digital tools. Hopefully, codifying this provision will lead to clarity and an increased uptake of digital tools in small businesses.

Mr. Speaker, I thank Representatives Alford, Lee, and McGarvey for their collaboration on this legislation, and I urge my colleagues to support the bill.

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Mr. OLSZEWSKI. Mr. Speaker, I have no further speakers, and I yield myself the balance of my time for the purpose of closing.

Mr. Speaker, last year, the 7(a) program provided more than 78,000 loans to small businesses worth more than $37.2 billion. Thus far, in 2026, the program has originated more than 38,000 loans worth more than $20.3 billion with an average loan size of approximately $533,000.

As I mentioned earlier, small businesses have been able to utilize 7(a) loans to finance digital tools, including software and cloud computing services. The SBA further clarified that position last June, yet some businesses have still reported uncertainty about using 7(a) loans for these purposes.

I support this legislation, as it will codify that clarification and end any confusion once and for all by making clear that these loans can indeed be used to finance digital tools.

I, again, thank Representatives Alford and McGarvey for leading on this bipartisan effort, and I urge my colleagues to support this bill.

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