green card small business.

The Small Business Administration said in a policy note that green card holders won’t be allowed to apply for SBA loans, effective March 1. The move is the latest by the SBA as it works to tighten loan restrictions and restructure. Last year, it tightened a requirement that businesses applying for loans must be 100% owned by U.S. citizens, U.S. nationals, or lawful permanent residents, up from a 51% standard. In December, it issued a notice that said up to 5% of a business could be non-citizen owned. But the current policy rescinds that, as well as making lawful permanent residents ineligible.