The Small Business Administration will remove green card holders’ eligibility to participate in government loan programs beginning March 1.
The agency will require that 100% of small business loan applicants be owned by US citizens or US nationals whose principal residence is in the US. A policy notice released Feb. 2 rescinds an exception allowing foreign nationals or US citizens living primarily outside the US to own up to a 5% stake in a business seeking an SBA loan.
The eligibility change is meant to comply with a January 2025 White House executive order on “Protecting the American People Against …