Rep. Mark Alford, U.S. Representative for Missouri's 4th District | Congressman Mark Alford Official website
Rep. Mark Alford, U.S. Representative for Missouri's 4th District | Congressman Mark Alford Official website
Today, Congressman Mark Alford introduced the Small Business Technological Advancement Act. The bill aims to update the Small Business Administration's (SBA) policies by allowing SBA 7(a) loan funds to be used for digital tools and services. This initiative seeks to equip small businesses with necessary resources to remain competitive in today's economy.
Congressman Alford emphasized the importance of small businesses, stating, "Small businesses are the fabric of America, driving innovation and growth." He believes that this legislation will provide "clarity and support for small businesses to embrace digital tools," thus enhancing their competitiveness globally.
Penny Lee, President and CEO of the Financial Technology Association, expressed support for the bill. She highlighted fintech as a crucial tool for many American small businesses and start-ups, noting its role in accessing capital and managing financial operations. Lee praised Congressman Alford's efforts, saying, "We applaud Congressman Mark Alford for introducing commonsense legislation that would make it easier for small businesses to benefit from these innovative technological tools."
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