119-HR2966

Bill is currently in: Senate
Path to Law
House Senate President

119th CONGRESS

1st Session

H. R. 2966

1. Short title
2. Requirements for citizenship status documentation for certain loan programs of the Small Business Administration

1. Short title

This Act may be cited as the "American Entrepreneurs First Act of 2025".

2. Requirements for citizenship status documentation for certain loan programs of the Small Business Administration

(a) In general - The Administrator of the Small Business Administration shall ensure that any application for a loan submitted under section 7(a) of the Small Business Act (15 U.S.C. 636(a)) or title V of the Small Business Investment Act of 1958 (15 U.S.C. 695 et seq.) includes the following information:

(1) - The date of birth for each individual applicant for such loan or for each individual owner of an applicant concern.

(2) - Certification that—

(A) - an individual applicant for such loan is a citizen of the United States, a national of the United States, or a lawful permanent resident of the United States; or

(B) - an applicant concern for such loan or a guarantor for such loan is 100 percent beneficially owned by individuals who are either citizens of the United States, nationals of the United States, or lawful permanent residents of the United States.

(3) - Certification that no direct or indirect owner of an applicant concern for such loan is an ineligible person.

(4) - Documentation of the alien registration number of any lawful permanent resident who is—

(A) - an individual applicant for such loan; or

(B) - an owner of an applicant concern.

(b) Prohibition - An applicant for a loan under section 7(a) of the Small Business Act (15 U.S.C. 636(a)) or title V of the Small Business Investment Act of 1958 (15 U.S.C. 695 et seq.) is ineligible for such loan if—

(1) - the applicant submits the application for such loan after the date of the enactment of this Act and such application does not contain the information required under subsection (a);

(2) - in the case such applicant is an applicant concern, any direct or indirect owner of such applicant concern is an ineligible person; or

(3) - in the case such applicant is an individual applicant, such applicant is an ineligible person.

(c) Ineligible person defined - In this Act, the term ineligible person means—

(1) - an asylee;

(2) - a refugee;

(3) - an individual issued a visa to remain in the United States;

(4) - an alien classified as a nonimmigrant under any subparagraph of section 101(a)(15) of the Immigration and Nationality Act (8 U.S.C. 1101(a)(15));

(5) - an alien to whom deferred action has been granted pursuant to the Deferred Action for Childhood Arrivals policy announced by the Secretary of Homeland Security on June 15, 2012; or

(6) - an alien present in the United States without lawful status under the immigration laws (as such term is defined in section 101(a) of the Immigration and Nationality Act (8 U.S.C. 1101(a))).