Bill · S. 1047· Senate(119-S-1047)
Assisting Small Businesses Not Fraudsters Act
- Introduced
- 3/13/2025
- Last activity
- 4/1/2025 — Placed on Senate Legislative Calendar under General Orders. Calendar No. 36.
- Sponsored by
- Todd Young
- Cosponsors
- - 2 - 0
- Introduced
- On Calendar
What this bill would do
This bill, titled the "Assisting Small Businesses Not Fraudsters Act," aims to prevent individuals who have defrauded the government from getting help from the Small Business Administration. It would prohibit associates of a small business from receiving financial assistance if they are finally convicted of crimes involving financial misconduct or false statements regarding specific loans or grants. Additionally, any small business concern that has such an individual as an associate would also be ineligible for most financial assistance. The restrictions exclude assistance provided under section 7(b). These new rules would not apply to contracts or agreements made by the government before this Act is passed.
Yes· 3 of 4
Does this make the government pay for what it commits to?+2
The bill enhances fiscal responsibility by penalizing financial misconduct and false statements.
Does this give the federal government more power?+1
The bill increases federal oversight of small business eligibility based on criminal convictions.
Does this make what the government does easier for the public to see?+1
The bill promotes more transparent and accountable use of government financial assistance.
The opposite
Would business owners be better off under this?-2
Business owners with specific associates may face loss of financial assistance due to their associates' convictions.
Does this make it easier to run a small business?-2
The bill may negatively impact small businesses if an associate is convicted of financial crimes, potentially losing access to many SBA programs.
Who it would affect, and how
Potential Positive Impacts for People
-
Prevention of financial assistance for those convicted of fraud: An associate of a small business who is finally convicted of crimes involving financial misconduct or false statements regarding covered loans or grants would be ineligible for financial assistance from the Administrator (Section 2(a)(1)).
-
Restricting ineligible business concerns: Small business concerns that have an associate subject to the fraud conviction requirements would be ineligible to receive financial assistance from the Administrator, with the exception of assistance under section 7(b) (Section 2(a)(2)).
Potential Negative Impacts for People
-
Impact on business associates and entities: A small business concern could lose eligibility for financial assistance if one of its associates—such as an officer, director, owner of more than 20 percent equity, or a key employee—is finally convicted of certain financial crimes (Section 2(a)(3)(A)).
-
Restriction on assistance types: The prohibition limits the types of financial assistance available, though it does explicitly allow assistance under section 7(b) (Section 2(a)(1) and Section 2(a)(2)).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Business Owners-2
- Governance And Ideology
- Improves Government Transparency+1Increases Federal Power+1
- Economy And Finance
- Improves Fiscal Responsibility+2Reduces Government Spending+1Improves Small Business Support-2
- 8/4/2026
- 1 Cosponsor added.
- 4/1/2025
- Committee on Small Business and Entrepreneurship. Reported by Senator Ernst without amendment. Without written report.
- Placed on Senate Legislative Calendar under General Orders. Calendar No. 36.
- 3/27/2025
- Committee on Small Business and Entrepreneurship. Ordered to be reported without amendment favorably.
- 1 Cosponsor added.
- 3/13/2025
- Read twice and referred to the Committee on Small Business and Entrepreneurship.
- Introduced in Senate
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Joni ErnstRepublican · Iowa
David McCormickRepublican · Pennsylvania