Bill would bar pandemic loan fraudsters from future SBA help
Placed on the calendarS. 1047Latest action
Sponsor: Todd Young · Senator · IN
AIDecoded by AI · checked against the recordRead the official text
Official title: Assisting Small Businesses Not Fraudsters Act
119th Congress
Topics: Jobs & the economy
Introduced:
Read the official bill on Congress.govIn plain words
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People finally convicted of pandemic-era loan or grant fraud would lose access to most future SBA assistance.
45-second read · 4 questions answered below
What does this do?
This bill blocks people finally convicted of fraud or false statements tied to pandemic-era programs like PPP loans, other COVID-19 relief loans, or restaurant and live venue grants from getting future SBA financial assistance, except disaster loans. Businesses connected to a convicted person, such as through ownership or leadership roles, could also be barred, with the same disaster-loan exception. The restriction applies only going forward and does not cancel existing government contracts or agreements.
Who does it affect?
This affects small business owners, executives, and companies that received pandemic-related SBA loans or grants and were later convicted of related fraud. It does not affect people convicted of unrelated crimes or businesses with no ties to a convicted associate.
Why does it matter?
Businesses and individuals tied to a fraud conviction would permanently lose eligibility for most SBA programs going forward, though disaster loans and pre-existing contracts remain unaffected.
AI-drafted summary. Check it against the official text before you act on it.
Based on the “Reported to Senate” text of Apr 1, 2025.
Read the official bill on Congress.govMake the call
Where does it stand?
- IntroducedMar 13, 2025
- Senate committee
- Senate voteYou are here · Apr 1, 2025
- House
- The president's desk
Right now: it was placed on the , and the official record shows no floor action on it since. If the House changes it, it goes back to the Senate before reaching the president.
Latest action: — Placed on Senate Legislative Calendar under General Orders. Calendar No. 36.