This bill would prohibit individuals convicted of financial crimes related to COVID-19 relief programs from receiving assistance from the Small Business Administration (SBA), including any SBA help for small businesses with owners or key employees who have such convictions.
Latest Action
Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
AI Summary
Plain-English explanation of this bill
This bill would prohibit individuals convicted of financial crimes related to COVID-19 relief programs from receiving assistance from the Small Business Administration (SBA), including any SBA help for small businesses with owners or key employees who have such convictions.
Last updated: 12/29/2025
Official Summary
Congressional Research Service summary
<p>This bill prohibits individuals convicted of certain financial crimes from receiving assistance from the Small Business Administration (SBA).</p> <p>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).</p> <p>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.</p>
Key Points
Main provisions of the bill
Bans individuals convicted of financial crimes involving COVID-19 relief programs (like PPP loans) from getting SBA assistance, other than disaster loans
The ban also applies to small businesses that have owners, officers, directors, or key employees who have been convicted of these financial crimes
This is intended to prevent abuse of COVID-19 relief funds and protect the integrity of SBA programs
How This Impacts Americans
Potential effects on citizens and communities
If this bill becomes law, it would impact small businesses and individuals who have been convicted of financial crimes related to COVID-19 relief programs. They would be barred from receiving most types of SBA assistance, which could make it harder for them to access capital and other support to run their businesses.
