US SB3876

Creates the "Spark Program" requiring the SBA Administrator to enter into 5-year cooperative agreements (renewable for 3-year periods) with eligible entities operating incubators, accelerators, or small business innovation projects, providing minimum $500,000 annually per entity

Targets underserved communities including women, socially/economically disadvantaged individuals, veterans, individuals with disabilities, rural areas, tribal members, formerly incarcerated individuals, and businesses in low/moderate-income areas

Establishes the "Spark Financing Program" providing financial assistance to covered entities to make grants (up to $20,000 per small business) or below-market-rate loans to covered small business concerns in underserved communities or economically distressed areas

Eligible entities include 501(c)(3) organizations, community development financial institutions, minority depository institutions, microlenders, certified development companies, HBCUs, tribal colleges, and community colleges

Requires annual reporting to Congress on program outcomes including participant demographics, capital accessed, jobs created, and retention rates, with SBA authorized to use up to 10% of appropriated funds for administrative expenses