Assisting Small Businesses Not Fraudsters Act
SBA Loans: Ban for Fraud Convictions
This bill has been approved by the Senate committee and is now waiting for a full vote by the Senate. It is currently listed on the Senate calendar for future consideration. The bill is actively moving through the legislative process.
Legislative Progress
This bill has bipartisan support and has already been reported out of committee without any changes. Most lawmakers want to look tough on pandemic fraud.
Key Points
- This bill stops people who cheated the government during the pandemic from getting more federal help. If someone was convicted of lying or stealing from COVID-19 relief programs, they cannot get new loans or grants from the Small Business Administration.
- The ban applies to business owners, top bosses, and anyone who owns more than 20 percent of a company. If a leader of a business is a convicted fraudster, the entire company is blocked from getting government money.
- This rule targets specific pandemic programs like the Paycheck Protection Program and the Restaurant Revitalization Fund. It aims to make sure that limited tax dollars go to honest business owners who follow the rules instead of those who have already broken them.
Impact Analysis
Govbase has not yet run an impact analysis on this legislation.
Milestones
Placed on Senate Legislative Calendar under General Orders. Calendar No. 36.
The bill is now on the schedule for the full chamber to consider. It's in line for debate and a vote.
Committee on Small Business and Entrepreneurship. Reported by Senator Ernst without amendment. Without written report.
The committee approved this bill and is sending it to the full chamber for a vote. This is a significant step — most bills never get this far.
Committee on Small Business and Entrepreneurship. Ordered to be reported without amendment favorably.
The committee approved this bill and is sending it to the full chamber for a vote. This is a significant step — most bills never get this far.
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Introduced in Senate
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
News
No related news coverage found for this legislation yet.
Source Information
Document Type
Congressional Bill
Official Title
Assisting Small Businesses Not Fraudsters Act
Data Sources
Sponsor
Cosponsors
(1)Analysis generated by AI. Always verify with official sources.