H.R. 825 — Assisting Small Businesses Not Fraudsters Act

This section establishes ineligibility for financial assistance from the Small Business Administration (SBA), other than disaster loans under section 7(b) of the Small Business Act, for (1) associates of small business concerns (i.e., officers, directors, owners of more than 20% equity, key employees, related entities, or those in control) who are finally convicted (i.e., conviction unappealable or appeals exhausted) of a crime involving financial misconduct or a false statement related to a covered loan or grant, and (2) such small business concerns with ineligible associates. Covered loans or grants include Paycheck Protection Program loans under section 7(a)(36) or (37), COVID-19 Economic Injury Disaster Loans under section 7(b), Restaurant Revitalization Program grants, and Shuttered Venue Operator grants. The prohibition does not apply to government contracts or agreements entered into before enactment.