American Entrepreneurs First Act of 2025
In committeeAmerican Entrepreneurs First Act This bill revises the application requirements for the Small Business Administration's 7(a) loan and 504 loan programs. Specifically, the bill requires applications for such loans to include (1) the applicant's date of birth; and (2) a certification that the applicant or all beneficial owners are citizens, nationals, or lawful permanent residents of the United States. The bill specifies that certain individuals are ineligible for such loans, including (1) asylees, (2) refugees, (3) individuals issued a visa to remain in the United States, (4) individuals legally classified as nonimmigrants, (5) individuals to whom deferred action has been granted pursuant to the Deferred Action for Childhood Arrivals, and (6) individuals without lawful status under the immigration laws of the United States.
Jun 9, 2025Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
Passed
The American Entrepreneurs First Act of 2025 requires applicants for certain Small Business Administration loans to provide citizenship status documentation. It excludes certain non-citizens from eligibility, including asylees and refugees. The bill focuses on ensuring loans are granted to U.S. citizens, nationals, or lawful permanent residents.