Preventing SBA Assistance from Going to China Act

# Preventing SBA Assistance from Going to China Act (HR 1081) **What the Bill Would Do** This bill aims to prevent Small Business Administration (SBA) loan programs and assistance from going to businesses with significant Chinese ownership or control. The legislation would add restrictions to existing SBA programs—which provide loans, grants, and other support to small businesses—to screen out companies that have substantial financial ties to China or are owned or controlled by Chinese nationals or entities. **Who It Affects** The bill would primarily affect small business owners seeking SBA assistance, particularly those with Chinese ownership or investment.

It would also impact the SBA's operations, as the agency would need to implement new vetting procedures to check for Chinese ownership or control before approving loans and assistance. **Current Status** As of now, HR 1081 remains in committee and has not advanced to a full vote in the House of Representatives. The bill was introduced by Representative Cory Mills (R-FL) in the 119th Congress and is still in the early stages of the legislative process.