Passing the “American Entrepreneurs First Act of 2025” (HR 2966)

The bill

American Entrepreneurs First Act of 2025

Topic: Commerce

What the bill does

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.

Source: Congressional Research Service summary

Bill on congress.gov(opens in a new tab)