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119th Congress · House

Assisting Small Businesses Not Fraudsters Act

Subjects: Credit and credit markets · Criminal investigation, prosecution, interrogation · Fraud offenses and financial crimes · Government lending and loan guarantees · Small business · Commerce

In plain language

  • House bill in the 119th Congress.
  • Prohibits individuals convicted of certain financial crimes from receiving assistance from the Small Business Administration (SBA).
  • House passed it on Feb 24, 2025 (substantive).
Official summary (Congressional Research Service)

Assisting Small Businesses Not Fraudsters Act This bill prohibits individuals convicted of certain financial crimes from receiving assistance from the Small Business Administration (SBA). Specifically, the bill prohibits individuals who have been convicted of a crime involving financial misconduct or a false statement with respect to certain COVID-19 loans (e.g., Paycheck Protection Program loans, Restaurant Revitalization Fund grants, and Shuttered Venue Operators grants) from receiving any financial assistance from the SBA (other than a disaster loan). The prohibition includes SBA assistance to small businesses that have an owner, officer, director, or key employee who has been convicted of such a crime.

View this measure on congress.gov

Roll-call votes on this measure