American Entrepreneurs First Act of 2025

HR 2966, the American Entrepreneurs First Act of 2025, modifies requirements for certain Small Business Administration (SBA) loans by requiring applicants to provide proof of citizenship, national status, or lawful permanent residency for themselves and all business owners. It directly affects small business applicants and their owners who are non-citizens, including refugees, nonimmigrant visa holders, DACA recipients, or undocumented individuals. The bill mandates new documentation, such as alien registration numbers for lawful permanent residents, and prohibits loans if applicants fail to provide this information or if ineligible owners are involved. These changes apply to SBA 7(a) loans and Title V investment programs, altering eligibility criteria for specific loan programs.