HR 2966
American Entrepreneurs First Act of 2025
Take action
Record your position on this measure.
Sign in to record your position, submit testimony, or contact your legislator.
Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
The American Entrepreneurs First Act requires the Small Business Administration to collect more detailed information from loan applicants. Specifically, applications for 7(a) and 504 loans must now include the applicant’s date of birth and a certification confirming that the applicant or all beneficial owners are U.S. citizens, nationals, or lawful permanent residents. Individuals currently receiving certain immigration benefits or lacking lawful status are ineligible to receive these loans.
Key provisions
- Loan applications for 7(a) and 504 programs must include applicant’s date of birth.
- Applicants must certify citizenship or lawful permanent residency status.
- Beneficial owners of applicant concerns must also meet citizenship/residency requirements.
- Applicants must certify that no owners are ineligible persons.
- Applicants must provide an alien registration number for lawful permanent residents.
- Applications submitted after the bill’s enactment without required information are ineligible.
- Certain individuals are ineligible, including asylees, refugees, and those lacking lawful immigration status.
- The bill defines ‘ineligible person’ to include specific immigration statuses.
Who is affected
- Small business owners
- Small business applicants
- The Small Business Administration
- Immigrants
- U.S. Citizens
Notable changes
- Previously, loan applications did not require detailed citizenship or residency information.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Cosponsor
Arguments in favor
Reasons to support this legislation.
No arguments in favor have been submitted.
Submit yoursArguments opposed
Reasons to oppose this legislation.
No arguments opposed have been submitted.
Submit yoursRead the latest version inline or switch to a previous version.
119th CONGRESS — 1st Session
H. R. 2966
IN THE HOUSE OF REPRESENTATIVES
A BILL
To require the Administrator of the Small Business Administration to require an applicant for certain loans of the Administration to provide certain citizenship status documentation, and for other purposes.
This Act may be cited as the American Entrepreneurs First Act
.
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.
an owner of an applicant concern.
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);
in the case such applicant is an applicant concern, any direct or indirect owner of such applicant concern is an ineligible person; or
in the case such applicant is an individual applicant, such applicant is an ineligible person.
a refugee;
an individual issued a visa to remain in the United States;