SBA 7(a) Loan Eligibility for Software, Cloud & AI Tools (Small Business Technological Advancement Act)
Current understanding
The Small Business Technological Advancement Act would clarify that the SBA 7(a) loan program may finance business software, cloud computing services, and AI-based tools used in small business operations. This is a scope expansion of an existing loan program rather than a new financing mechanism — it does not change underwriting, guarantee levels, or borrower eligibility criteria. Status: proposed legislation.