This legislation amends the Small Business Act to establish new prohibitions on financial assistance. It makes an individual ineligible to receive most Small Business Administration (SBA) financial assistance if they are an associate of a small business concern and have been finally convicted of a crime involving financial misconduct or a false statement related to a covered loan or grant . Furthermore, any small business concern that has such an ineligible individual as an associate will also be barred from receiving most SBA financial aid, with the exception of assistance under section 7(b). The bill defines an "associate" broadly to include officers, directors, owners of more than 20 percent equity, key employees, and entities controlled by such individuals. A "covered loan or grant" specifically refers to certain pandemic-era programs, such as Paycheck Protection Program (PPP) loans, COVID-19 related Economic Injury Disaster Loans (EIDL), and grants like the Shuttered Venue Operators Grant and the Restaurant Revitalization Fund. A conviction is considered "finally convicted" once all appeals are exhausted or the time for appeal has expired, ensuring legal finality. This measure does not apply to contracts or other agreements entered into by the Government prior to its enactment.