OPENING THE RECORD
OPENING THE RECORD
H.R. 2966 · 119TH CONGRESS
This has not become law. Both chambers must pass the same text before sending it to the president. How a bill becomes law.
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.
Written by the Congressional Research Service for this version of the bill. Later versions may differ. Read at Congress.gov.