Assisting Small Businesses Not Fraudsters Act
Sponsored by Roger Williams
Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
Feb 25, 2025
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.