The Bill
Small businesses may now be able to use federal Small Business Administration (SBA) loans to pay for software and cloud computing services, including tools powered by artificial intelligence, after Rep. Chris Smith (R-NJ-4) voted June 24 to pass the Small Business Technological Advancement Act.
H.R. 915 expands the SBA's 7(a) loan program. This is the agency's primary lending tool for small businesses, which would now cover the cost of business software and cloud-based services. That includes payroll processing, human resources, sales and billing, accounting, and inventory tracking. The bill also explicitly covers AI-powered business tools.
The bill was introduced in February 2025 by Rep. Mark Alford (R-MO-4) and cleared the House Small Business Committee unanimously, 23-0, before reaching the full House floor.
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The Vote Breakdown
The Small Business Technological Advancement Act passed with broad support from both parties. 205 Republicans voted yes, along with 208 Democrats, making it one of the more lopsided bipartisan small business legislation votes of the current session. The only opposition came from four Republicans.
Smith voted with his party. He did not break from the Republican majority position.
Smith, a 46-year veteran of the House representing New Jersey's fourth Congressional District, has missed six votes this Congress. Wednesday's yes vote on the Small Business Technological Advancement Act added to a congressional floor votes record that began in 1981.
The bill now moves forward in the legislative process.
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