H.R. 825 · Passed House · Commerce

Assisting Small Businesses Not Fraudsters Act

Sponsor: Roger Williams (R-TX)

What it does

• Bars individuals convicted of financial misconduct or false statements involving certain pandemic relief loans from receiving SBA financial assistance other than a disaster loan.
• Covers crimes tied to Paycheck Protection Program loans, Restaurant Revitalization Fund grants, and Shuttered Venue Operators grants.
• Extends the bar to small businesses with an owner, officer, director, or key employee convicted of such a crime.

Official summary

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.

Latest action

Feb 25, 2025: Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.

Committee: Senate Small Business and Entrepreneurship