Name: New Rule to Bar Green Card Holders From Small Business Administration Loans
Uploaded: 2026-02-13T17:41:37.000Z
Description: The SBA notice says starting March 1, businesses seeking loans backed by the SBA should be completely owned by U.S. citizens or U.S. nationals whose principal residence is in the United States.

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WASHINGTON—A new rule by President Donald Trump's administration will bar green card holders from applying for Small Business Administration (SBA) loans and limit SBA loan eligibility to citizen-owned businesses, an SBA notice showed.

The SBA notice says starting March 1, businesses seeking loans backed by the SBA should be completely owned by U.S. citizens or U.S. nationals whose principal residence is in the United States.

The notice rescinds a previous guidance, "removing the narrow exception that allowed a Borrower to have up to 5 percent ownership held by foreign nationals, or U.S. Citizens, U.S. Nationals, or Legal Permanent Residents (LPRs) whose Principal Residents was outside of the United States, its territories or possessions."

"Further, and beginning with the Effective Date of this Notice, Legal Permanent Residents (LPRs) will not be eligible to own any percentage interest in an Applicant/Borrower," the notice added.

The new rule does not prohibit non-citizens in the United States from owning businesses or from accessing conventional bank loans.

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