Investing in the American Dream Act

The Investing in the American Dream Act expands eligibility for Small Business Administration loans to include small businesses owned by certain non-citizens. Specifically, it allows businesses to qualify if they are at least 51 percent owned and controlled by individuals who are lawfully present in the United States and authorized to work, such as refugees, asylees, permanent residents, and specific nonimmigrant visa holders. The bill also permits businesses owned by individuals living outside the United States to apply for these loans. This change aims to broaden access to federal financial support for small enterprises by removing previous restrictions based on the citizenship or permanent residency status of the business owners.