Assisting Small Businesses Not Fraudsters Act passed the House 27 days after introduction and awaits a vote in the Senate
Written by the Congressional Research Service [2]. 101 words.
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.
- Committees
- House Small Business Committee
Senate Small Business and Entrepreneurship Committee - Policy area
- Commerce: 44 of 2,416 bills became law, 113th–118th (1.8%)
- Sponsor
- 1 of 116 bills enacted since 2013
- Text versions
- 3, from introduced in house to referred in senate · 440 words
- Subjects
- Credit and credit marketsCriminal investigation, prosecution, interrogationFraud offenses and financial crimesGovernment lending and loan guaranteesSmall business
- Latest action
- Feb 25, 2025: Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
- Records
- Congress.gov · Bill text
Each bill appears once, under its strongest link. 1 in all.
Related, per CRS or House · 1
- 119th S. 1047 Assisting Small Businesses Not Fraudsters Act R · Reported