OPENING THE RECORD
OPENING THE RECORD
H.R. 825 · 119TH CONGRESS
This has not become law. Both chambers must pass the same text before sending it to the president. How a bill becomes law.
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.
Written by the Congressional Research Service for this version of the bill. Later versions may differ. Read at Congress.gov.