S. 2330 — Introduced in Senate

II 118th CONGRESS 1st Session S. 2330 IN THE SENATE OF THE UNITED STATES July 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 Entrepreneurship A BILL To 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. .