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S. 3876119th CongressIn committeeLatest action Feb 12, 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 funding incubators and small grants for entrepreneurs in underserved communities.
55-second read · 5 questions answered below
This bill directs the Small Business Administration to create two new programs. The first would fund organizations to offer free mentorship, counseling, and business development services to startups over five-year projects. The second would let those same organizations pass along small grants of up to $20,000 each, or low-interest loans, directly to qualifying small businesses at no cost to the owner.
Eligible funding recipients include nonprofits, community lenders, minority banks, and community colleges. The programs are aimed at entrepreneurs who are women, racial minorities, veterans, people with disabilities, formerly incarcerated individuals, rural residents, or located in economically distressed areas.
These programs would direct business support resources toward communities that have historically had less access to them. The SBA would be required to track outcomes, report to Congress annually, and set up rules to prevent fraud.
AI-drafted summary. Verify it against the official text before you act on it. Read the official bill on Congress.gov
Right now: a Senate committee is reviewing it. If the House changes it, it goes back to the Senate before reaching the President.
Latest action: — Read twice and referred to the Committee on Small Business and Entrepreneurship.