For decades, immigrants who are legal permanent residents in the U.S. could get loans through the Small Business Administration, a core pillar of small-business lending. Not anymore.
SBA banned small-business loans to firms not fully citizen-owned in March, excluding green-card holders (4% impact). Immigrants launch 25% of U.S. businesses and 2/3 of billion-dollar startups; policy risks reducing entrepreneurship and job growth.
A small-business loan helped Sayuri Tsuchitani open her own storefront: a Japanese head spa. But today, she wouldn't qualify because the Small Business Administration has dramatically changed its lending policy.
Courtesy of Sayuri Tsuchitani
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Courtesy of Sayuri Tsuchitani
Donald Trump regulator finds US lenders may have denied service on political grounds | The Jerusalem Post
Treasury expands bank data-sharing rules tied to Trump immigration crackdown
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Ya entró en vigor la orden de Trump para revisar las cuentas bancarias en EE.UU.
