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New Business Loan Rules: US Citizens and Residents First

This new law changes access to small business loans, requiring applicants and business owners to prove US citizenship or permanent resident status. Individuals with asylum, refugee, temporary visa, or undocumented status will not be eligible for these loans. This directly impacts who can receive financial support for business development.
Key points
Applicants for small business loans must be US citizens, US nationals, or lawful permanent residents.
Businesses applying for loans must be 100% beneficially owned by individuals meeting these citizenship/residency criteria.
Individuals with asylum, refugee, temporary visa, DACA, or undocumented status are ineligible for these loans.
Applications must include date of birth and alien registration number for lawful permanent residents.
article Official text account_balance Process page
VOTING RESULTS
2025-06-06
53%
For 217
Against 190
Abstain 0
Full voting results open_in_new
Passed House
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_2966
Sponsor: Rep. Van Duyne, Beth [R-TX-24]
Process start date: 2025-04-17
Voting date: 2025-06-06
Meeting no: 1
Voting no: 156
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

American Entrepreneurs First Act of 2025

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_2966.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2025-04-17.

What are the main provisions?

Key points include:

  • Applicants for small business loans must be US citizens, US nationals, or lawful permanent residents.
  • Businesses applying for loans must be 100% beneficially owned by individuals meeting these citizenship/residency criteria.
  • Individuals with asylum, refugee, temporary visa, DACA, or undocumented status are ineligible for these loans.
  • Applications must include date of birth and alien registration number for lawful permanent residents.
What is the specific legal status?

The current status is Passed House.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Where is the official voting record?

The official roll call vote is recorded at: voting record

Who is the primary sponsor?

The primary sponsor is Rep. Van Duyne, Beth [R-TX-24].

What is the latest detailed status?

The latest detailed status is: On passage Passed by the Yeas and Nays: 217 - 190 (Roll no. 156). (text: CR H2510-2511)

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-22.

CATEGORIES

Economy Migration