Investing in the American Dream Act

The Investing in the American Dream Act expands eligibility for Small Business Administration loans to include businesses owned by certain immigrants, such as refugees, asylees, and individuals with deferred action. To qualify, these businesses must be located in the United States and at least 51 percent owned and controlled by U.S. citizens or nationals of the United States. The law explicitly states that businesses meeting these ownership and location requirements cannot be denied loans solely because they are owned by eligible immigrants. Additionally, the bill clarifies that it does not grant the SBA authority to increase the 51 percent ownership threshold for any type of loan.