American Entrepreneurs First Act of 2025
H.R. 2966119th CongressCommerce
- Introduced
- Apr 17, 2025
- Latest action
- Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
- Jun 9, 2025
Recorded votes
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Summary
Written by the nonpartisan Congressional Research Service.
American Entrepreneurs First Act
This bill revises the application requirements for the Small Business Administration's 7(a) loan and 504 loan programs.
Specifically, the bill requires applications for such loans to include (1) the applicant's date of birth; and (2) a certification that the applicant or all beneficial owners are citizens, nationals, or lawful permanent residents of the United States.
The bill specifies that certain individuals are ineligible for such loans, including (1) asylees, (2) refugees, (3) individuals issued a visa to remain in the United States, (4) individuals legally classified as nonimmigrants, (5) individuals to whom deferred action has been granted pursuant to the Deferred Action for Childhood Arrivals, and (6) individuals without lawful status under the immigration laws of the United States.