A bipartisan bill sponsored on Jan. 29 by U.S. Sen. Todd Young (R-IN) would help America’s small business owners integrate digital tools into their operations.
“Small businesses are the lifeblood of Indiana’s economy,” Sen. Young said. “Our bill will promote the adoption of digital tools so that Hoosier small businesses can better compete in today’s economy.”
The Small Business Technological Act of 2025, S. 305, which is cosponsored by U.S. Sen. Jacky Rosen (D-NV), would clarify that small businesses can utilize the Small Business Administration’s 7(a) loan program to finance technology that supports daily operations, including inventory management, product delivery, and accounting systems.
The legislation would amend the Small Business Act to clarify that 7(a) loan borrowers could finance business software or cloud computing services for: facilitating daily operations; product or service delivery; processing, payment, and tracking of payroll expenses; human resources; sales and billing functions; and/or accounting or tracking of supplies, inventory, records and expenses, according to a bill summary provided by Sen. Young’s staff.
The measure has been referred for consideration to the U.S. Senate Small Business and Entrepreneurship Committee.
“Small businesses are the backbone of Nevada’s economy, and I’m committed to helping them thrive in any way I can,” said Sen. Rosen. “That’s why I’m helping to introduce this bipartisan bill that will free up federal resources to make sure small businesses have the technological support they need to modernize their operations and continue to compete.”