Prohibits individuals convicted of defrauding the government from receiving financial assistance from the Small Business Administration.
The Assisting Small Businesses Not Fraudsters Act amends the Small Business Act to prohibit individuals convicted of financial misconduct or false statements related to a covered loan or grant from receiving financial assistance from the Small Business Administration. This applies to associates of small business concerns, including officers, directors, owners, and key employees. The prohibition does not apply to financial assistance under specific sections of the Small Business Act or related to the COVID-19 pandemic.
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