Rep Alford Bill to Facilitate Small Business Technology Adoption Passes House

The House of Representatives passed Rep Mark Alford’s (R-MO) Small Business Technological Advancement Act, bipartisan legislation that ensures small businesses can use SBA 7(a) loans to invest in modern digital tools and technology needed to compete in today’s economy. The bill clarifies that loan funds may be used for essential business technologies such as accounting software, payroll systems, cybersecurity tools, inventory management platforms, cloud services, and emerging artificial intelligence applications. By codifying current federal guidance, the legislation streamlines access to capital and helps small businesses modernize and grow.