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La Small Business Administration (SBA) announced that as of March 1, permanent residents (green card holders) will no longer qualify for loans, one of the most widely used financing programs in small businesses in the United States.
This measure was formalized in a recent memorandum, which establishes that they will only be able to access this program.
- Companies with 100% American ownership.
- Owners residing within the United States.
- No participation of foreigners, permanent residents or US citizens living outside the country.
The loan 7 It is considered the agency’s flagship product, which allows financing of up to $5 million for working capital, expansion and other commercial uses.
The SBA previously tightened requirements in December
It is worth mentioning that before this notice, the SBA had already made adjustments to the program last December where it only allowed up to 5% of the ownership of a company to be in the hands of:
- A foreigner.
- A green card holder.
- A US citizen residing outside the country.
Prior to the recent changes made during the administration of President Donald Trump, the requirement was more flexible: it was only enough for 51% of the business to belong to a US citizen residing in the country.
The complete elimination of access for permanent residents is without a doubt one of the most restrictive changes in the agency’s credit policy.
Democratic legislators launch against the decision
This new restriction caused immediate criticism from Congress. Senator Edward J. Markey and Representative Nydia Velázquez, ranking members of the Senate and House Small Business Committees, questioned forcefully the measure.
In a joint statement they indicated that the decision harms legal immigrants who aim to start or expand businesses in the United States.
The rule will be applied from March 1, and the political debate around the scope of the changes is just beginning.
date: 2026-02-15 00:42:00