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H.R. 8063119th CongressIn committeeLatest action Mar 24, 2026Decoded by AI · checked against the record
The plain-language version leads. The official text is always the reference.
The SPARK Act would create two SBA programs sending money to local organizations that support startups in underserved communities.
55-second read · 5 questions answered below
This bill directs the Small Business Administration to set up two new programs. The first would fund organizations that run business incubators or accelerators serving underserved entrepreneurs. The second would let those same organizations give small grants of up to $20,000 or low-interest loans directly to qualifying small businesses, at no fee to the businesses.
Organizations eligible to receive SBA funding include nonprofits, community banks, credit unions, and community colleges. The small businesses and entrepreneurs they serve include women, minorities, veterans, people with disabilities, formerly incarcerated individuals, and rural entrepreneurs in low-income or economically distressed areas.
Without a program like this, organizations serving underserved communities may have limited access to dedicated federal funding for mentorship and startup support. Small businesses in these communities may also have fewer options for grants or affordable loans.
AI-drafted summary. Verify it against the official text before you act on it. Read the official bill on Congress.gov
Right now: a House committee is reviewing it. If the Senate changes it, it goes back to the House before reaching the President.
Latest action: — Referred to the House Committee on Small Business.