In CommitteeFiled Apr 28, 2026
Sponsor: Rep. Velázquez, Nydia M. [D-NY-7] (D)
Latest Action
Referred to the House Committee on Small Business.
Apr 28, 2026
Summary
The bill defines “eligible individuals,” covering refugees, asylum seekers, certain non‑immigrants, permanent residents and people whose primary home is abroad. A small business can receive a guaranteed SBA loan if at least 51% is owned by U.S. citizens or these eligible individuals who are lawfully present and authorized to work. It also prevents lenders from denying a loan solely because the owners are eligible individuals.
AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.
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