Transparency in Small Business Assistance Act - Directs the Administrator of the Small Business Administration (SBA) to collect, for specified periods, information from small businesses that receive SBA assistance, including a loan, loan guarantee, grant, or counseling services.
Requires such information to include: (1) the operational status of the small business concern and, if it is no longer operational, the reason for closure; (2) the number of part- and full-time employees; and (3) the number of referrals that SBA makes to another federal assistance program if it is unable to provide assistance to the concern.