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Members raise concerns that new SBA citizenship checks are blocking lawful small business borrowers
Summary
Several members told the committee that a recent SBA verification policy is preventing lawful noncitizens or businesses with minority noncitizen owners from receiving guaranteed loans; the SBA said it is verifying ownership to prevent fraud and offered to work with lenders on implementation details.
Multiple members told the House Committee on Small Business that changes to SBA citizenship verification and ownership checks have caused lenders to delay or decline previously approved loans in cases involving lawful noncitizen owners or spouses.
Representative Tran and others described instances in which community lenders were unable to close loans for borrowers who include lawful, work‑authorized noncitizens or U.S. citizens married to…
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