This bill amends the Small Business Act to establish new prohibitions on receiving financial assistance from the Small Business Administration (SBA). It targets individuals who have been finally convicted of crimes involving financial misconduct or false statements related to specific COVID-19 relief loans or grants. Such individuals, defined as "associates" of a small business, will be ineligible for most SBA financial assistance, excluding certain disaster loans. Furthermore, a small business concern will also be deemed ineligible for most SBA financial assistance if it has an associate who meets these conviction criteria. The bill specifically defines "covered loans or grants" to include Paycheck Protection Program (PPP) loans, Economic Injury Disaster Loans (EIDL) for COVID-19, and grants from the American Rescue Plan Act and the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act. This prohibition does not apply to contracts or agreements entered into before the bill's enactment date.