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Big change for California small businesses: No more SBA loans for non-citizens
The SBA's new policy excludes green-card holders from low-interest loans, impacting 220,000 immigrant-owned small businesses in California, which represent 40% of the state's business community.
- The Small Business Administration restricted loan eligibility to U.S. citizens and nationals starting in March, excluding green-card holders from direct loans and SBA-backed loans beginning in April.
- In California, the changes could affect about 220,000 small business owners who hold green cards. Carolina Martinez, chief executive of CAMEO Network, called the decision "really bad for the American economy."
- The SBA approved 3,358 loans for businesses partly owned by lawful permanent residents in fiscal year 2025, representing 4% of the 85,000 total loans approved, according to SBA spokesperson Maggie Clemmons.
- Kenia Zamarripa, spokesperson for the San Diego Regional Chamber of Commerce, warned the policy pushes green-card holders toward "informality," forcing entrepreneurs to navigate fragmented lending options instead of the straightforward SBA process.
- Immigrant entrepreneurs generate $28.4 billion in annual income in California, and advocates now seek state-funded options or philanthropic support to bridge the financing gap created by the new SBA policy.
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Donald Trump’s administration will bar green card holders (read: legal, permanent residents) from receiving small business loans, threatening to further unravel the U.S. job market.The Small Business Administration has barred green card holders from receiving SBA loans and will expand that policy to SBA-backed loans from private companies starting in April, the Associated Press reported Monday. Additionally, any business that is even partially o…
Associated Press News+16 Reposted by 16 other sources
Big change for California small businesses: No more SBA loans for non-citizens
Green-card holders no longer qualify for loans from the Small Business Administration, eliminating a longtime source of financing for immigrants that advocates say will discourage job creation and harm the economy.
·United States
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Total News Sources19
Leaning Left5Leaning Right2Center3Last UpdatedBias Distribution50% Left
Bias Distribution
- 50% of the sources lean Left
50% Left
L 50%
C 30%
R 20%
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