On Friday, the House passed HR 2966The American Entrepreneurs First Act, which does not limit non -citizens to receiving loans from Small Business Administration (SBA).
The bill entered into a vote of 217-190, with eight Democrats who joined all Republicans.
The first law of American entrepreneurs will:
This bill revises the application requirements for the 7 (A) loan from the Small Business Administration and 504 loan programs.
In particular, the account requires applications for such loans to (1) include the date of birth of the applicant; and (2) a certification that the applicant or all useful owners are citizens, nationals or legal permanent residents of the United States.
The bill indicates that certain persons are not eligible for such loans, including (1) Asylees, (2) refugees, (3) persons have issued a visa to stay in the United States, (4) persons who are legally classified as non -immigrants, (5) persons whose deferred action has been assigned.
If the bill accepts the Senate and is signed by President Donald Trump, the applicants of SBA -Loingen requires to submit documentation that their citizenship status proves.
News: Today, the American House of Representatives adopted the American entrepreneurs First Act of 2025, to support SBA’s decision to implement the date of birth and citizenship verification for SBA loans. pic.twitter.com/ujwzvmi1e3
– SBA (@sbagov) June 6, 2025
Sponsor rep. Beth van Duyne (R-TX) shared on X, “Passed: HR 2966-American Entrepreneurs First Act.”
“My common sense legislation ensures that SBA funds go to American citizens, not to private individuals or companies with foreign or people without papers.”
“@Housegop stands up for American small companies and protects taxpayers against waste, fraud and abuse.”
✅ Passed: HR 2966 – American entrepreneurs first act
My common sense legislation ensures that SBA funds go to American citizens, not to private individuals or companies with foreign or people without papers.@Housegop stands for American small companies and the protection of the taxpayer … pic.twitter.com/wo1g6ayoep
– Congress woman Beth van Duyne (@repbethvanduyne) June 6, 2025
#House #passes #American #entrepreneurs #act #implement #citizenship #verification #SBA #loans #Gateway #expert #Margaret #Flavin