SBA Loans: New Regulations Impacting Green Card Holders
SBA Loans: New Regulations Impacting Green Card Holders Understanding the New Rules for Green Card Holders As of March 1, the Small Business Administration (SBA) has implemented a significant change in its loan policies that directly affects lawful permanent residents, specifically green card holders. This new regulation has raised concerns among many aspiring entrepreneurs, particularly within the Indian community. Who Will Be Affected? The updated guidelines prohibit green card holders from obtaining business loans through the SBA. This decision comes at a time when many Indian entrepreneurs have been looking to start or expand their businesses in the U.S. The implications are profound, leading to questions about the future of business ownership for thousands of green card recipients. The Impact on Indian Entrepreneurs This recent restriction could significantly hinder the entrepreneurial spirit among Indian nationals who have resided in the U...