Trump Expands Ban On Foreigners Receiving Small Business Loans

Authored by José Niño via Headline USA,

President Donald Trump’s Small Business Administration announced this week that foreign nationals are now prohibited from accessing all federal small business loan programs, extending restrictions put in place last month, according to Breitbart News.

“The Trump SBA is committed to driving economic growth and job creation for American citizens,” SBA Administrator Kelly Loeffler stated.

“Last month, we made it clear that SBA would not allow foreign nationals to access our core small business loan programs – and today, we are expanding that policy to include all SBA-guaranteed loans.”

The expanded restrictions specifically bar foreign nationals from the agency’s Surety Bond program and Microloans, which provide financing up to $50,000 for small businesses and nonprofit childcare centers.

“With our lending authority capped annually by Congress and amid record demand for access to capital, our responsibility is clear: The limited resource of SBA financing must prioritize American citizens who are building businesses and creating jobs here at home,” Loeffler added.

The administrator announced last month that applicants for the agency’s primary small business loan would need to be American citizens with permanent residence in the United States.

During Fiscal Year 2025, largely under former President Joe Biden, the SBA approved nearly 3,400 loans to small businesses owned at least partially by foreign nationals.

Those loans represented four percent of the agency’s 85,000 total approvals that fiscal year.