A Significant Change for Immigrant Entrepreneurs
In a surprising policy shift, the US government has announced that Green Card holders (Permanent Residents) will no longer be eligible for SBA-backed small business loans. These loans have historically been a vital lifeline for starting businesses in the US.
The Logic of ‘Native First’
The administration’s ‘America First’ approach is being cited as the driver for this decision, prioritizing lending to US citizens. Critics argue this could stifle innovation, as immigrant-founded businesses are a cornerstone of the American economy.
Alternative Financing
Green Card holders will now have to rely more on private lending institutions and venture capital, which often come with higher interest rates and more stringent requirements than government-backed programs.
