WASHINGTON — United States Senators Todd Young, Republican of Indiana; Jacky Rosen, Democrat of Nevada; Ted Budd, RN.C.; and Jeanne Shaheen, DN.H., on July 18 introduced bipartisan legislation to help small business owners integrate digital tools into their businesses. The Small Business Technology Advancement Act would clarify that small businesses can use the Small Business Administration’s 7(a) loan program to finance technology that supports day-to-day operations, including inventory management, product delivery, and sales. accounting systems.
“Technological advances have created opportunities for small businesses to take advantage of the digital economy and expand their customer base. However, the high initial and ongoing costs associated with these technologies can pose financial challenges,” Young said in the announcement. “Our bipartisan bill would mitigate these economic barriers, making it easier for small businesses to adopt digital tools in Indiana and across the country.”