This bill would make the Small Business Administration’s watchdog send regular updates to Congress about COVID‑19 loan fraud. Within 60 days of the law taking effect—and then every three months—the SBA Inspector General must report how many borrowers committed fraud with these loans, plus details about the cases and the money involved.

The reports must cover loans made under the pandemic programs, including Paycheck Protection Program–style loans under section 7(a) and COVID‑19 disaster loans under section 7(b) of the Small Business Act. Each report must list the number and total dollar amount of loans made, new fraud or suspected fraud cases, the number of cases resolved, and the types of fraud seen. The requirement ends two years after the law starts, and it does not authorize new spending to carry it out.

Key points:

• Who is affected: The SBA Inspector General and, indirectly, small business loan programs tied to COVID‑19.
• What changes: Regular, detailed fraud reporting to Congress on pandemic‑related SBA loans.
• When: First report due 60 days after enactment, then every three months; sunsets after two years.
• Funding: No new money is authorized for this reporting requirement.