{"id":158270,"date":"2026-03-09T19:07:07","date_gmt":"2026-03-09T19:07:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/158270\/"},"modified":"2026-03-09T19:07:07","modified_gmt":"2026-03-09T19:07:07","slug":"sba-bans-foreign-nationals-from-accessing-sba-backed-loans-the-bronx-daily","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/158270\/","title":{"rendered":"SBA Bans Foreign Nationals From Accessing SBA-backed Loans | The Bronx Daily"},"content":{"rendered":"

Today, in the effort to prioritize American job creators, the U.S. Small Business Administration<\/a> (SBA) issued a new policy notice to ban foreign nationals and non-citizens from accessing SBA-guaranteed small business loans. The latest notice, which applies to the agency\u2019s Surety Bond<\/a> and Microloan Programs,<\/a> builds on the policy change implemented<\/a> earlier this month \u2013 which made any small business owned in whole or in part by a foreign national ineligible for the agency\u2019s flagship 504 and 7(a) loan programs. Small business owners applying for any SBA loan program must be U.S. citizens or U.S. nationals with their principal residence in the United States.<\/p>\n

\u201cThe Trump SBA is committed to driving economic growth and job creation for American citizens,\u201d said SBA Administrator Kelly Loeffler. \u201cLast month,\u00a0we made it clear that SBA would not allow foreign nationals to access our core small business loan programs \u2013 and today, we are expanding that policy to include all SBA-guaranteed loans. With our lending authority capped annually by Congress and amid record demand for access to capital, our responsibility is clear: the limited resource of SBA financing must prioritize American citizens who are building businesses and creating jobs here at home.\u201d<\/p>\n

In Fiscal Year 2025, SBA approved 3,358 loans for small businesses owned in part by a lawful permanent resident (LPR), largely during the Biden Administration \u2013 representing 4% of the agency\u2019s total 85,000 loans approvals. With a finite lending authority and record demand for capital thanks to President Trump\u2019s economic agenda, SBA is prioritizing the agency\u2019s guaranteed loan programs for American citizens. The new policy will take effect 30 days after publication.<\/p>\n

The latest policy builds on numerous reforms by Administrator Loeffler to put American small business owners first. Last year, the agency implemented<\/a> citizenship verification across its loan programs to cut off access to loans for illegal aliens.\u00a0The agency also announced<\/a> efforts to relocate SBA field offices out of sanctuary cities that do not comply with U.S. Immigration and Customs Enforcement (ICE), jeopardizing both the safety of SBA employees and small business owners.<\/p>\n

\u00a0<\/p>\n

About the U.S. Small Business AdministrationThe U.S. Small Business Administration helps power the American dream of entrepreneurship. As the leading voice for small businesses within the federal government, the SBA empowers job creators with the resources and support they need to start, grow, and expand their businesses or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, please visit sba.gov<\/a>.<\/p>\n

\u00a0<\/p>\n

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