Blocks Small Business Aid to China
Official: Preventing SBA Assistance from Going to China Act
IntroducedFebruary 6, 2025
Why This Matters
This bill stops certain businesses connected to China from getting assistance from the Small Business Administration.
If you own a business with more than 25 percent Chinese ownership, you will not qualify for Small Business Administration assistance.
Affects: This bill affects small business owners and entrepreneurs with ties to China.
What changes is this bill making?
1. This bill prevents businesses tied to China from receiving help from the Small Business Administration. 2. A business cannot be considered small if it is based in China or has significant Chinese ownership. 3. The bill aims to protect American businesses from foreign competition. 4. It specifically targets companies with over 25 percent ownership by Chinese citizens or organizations. 5. This legislation is part of a broader effort to limit foreign influence in the U.S. economy.
Who is affected?
This bill affects small business owners and entrepreneurs with ties to China.