American Entrepreneurs First Act of 2025
Officially: “American Entrepreneurs First Act of 2025” Read the full text
What it does
Read it in plain language
1Short title
This section would give the Act the short title "American Entrepreneurs First Act."
Show official text
1. Short title This Act may be cited as the American Entrepreneurs First Act .
2Requirements for citizenship status documentation for certain loan programs of the Small Business Administration
This section would require the Administrator of the Small Business Administration to make sure that any loan application submitted under section 7(a) of the Small Business Act or title V of the Small Business Investment Act of 1958 includes four things: the date of birth of each individual applicant and of each individual owner of an applicant business; a certification that either the individual applicant is a United States citizen, a United States national, or a lawful permanent resident, or that the applicant business (or a guarantor for the loan) is 100 percent owned by people who are United States citizens, United States nationals, or lawful permanent residents; a certification that no direct or indirect owner of the applicant business is an ineligible person; and the alien registration number of any lawful permanent resident who is either the individual applicant or an owner of the applicant business. This section would also make an applicant ineligible for one of these loans if any of three things is true: the applicant submits the loan application after this Act is enacted and the application does not contain the information described above; the applicant is a business and any direct or indirect owner of that business is an ineligible person; or the applicant is an individual who is an ineligible person. This section would define "ineligible person" to mean any of the following: an asylee; a refugee; an individual issued a visa to remain in the United States; an alien classified as a nonimmigrant under any subparagraph of section 101(a)(15) of the Immigration and Nationality Act; an alien granted deferred action under the Deferred Action for Childhood Arrivals policy announced by the Secretary of Homeland Security on June 15, 2012; or an alien present in the United States without lawful immigration status.
Show official text
2. Requirements for citizenship status documentation for certain loan programs of the Small Business Administration (a) In general The Administrator of the Small Business Administration shall ensure that any application for a loan submitted under section 7(a) of the Small Business Act ( 15 U.S.C. 636(a) ) or title V of the Small Business Investment Act of 1958 ( 15 U.S.C. 695 et seq. ) includes the following information: (1) The date of birth for each individual applicant for such loan or for each individual owner of an applicant concern. (2) Certification that— (A) an individual applicant for such loan is a citizen of the United States, a national of the United States, or a lawful permanent resident of the United States; or (B) an applicant concern for such loan or a guarantor for such loan is 100 percent beneficially owned by individuals who are either citizens of the United States, nationals of the United States, or lawful permanent residents of the United States. (3) Certification that no direct or indirect owner of an applicant concern for such loan is an ineligible person. (4) Documentation of the alien registration number of any lawful permanent resident who is— (A) an individual applicant for such loan; or (B) an owner of an applicant concern. (b) Prohibition An applicant for a loan under section 7(a) of the Small Business Act ( 15 U.S.C. 636(a) ) or title V of the Small Business Investment Act of 1958 ( 15 U.S.C. 695 et seq. ) is ineligible for such loan if— (1) the applicant submits the application for such loan after the date of the enactment of this Act and such application does not contain the information required under subsection (a); (2) in the case such applicant is an applicant concern, any direct or indirect owner of such applicant concern is an ineligible person; or (3) in the case such applicant is an individual applicant, such applicant is an ineligible person. (c) Ineligible person defined In this Act, the term ineligible person means— (1) an asylee; (2) a refugee; (3) an individual issued a visa to remain in the United States; (4) an alien classified as a nonimmigrant under any subparagraph of section 101(a)(15) of the Immigration and Nationality Act ( 8 U.S.C. 1101(a)(15) ); (5) an alien to whom deferred action has been granted pursuant to the Deferred Action for Childhood Arrivals policy announced by the Secretary of Homeland Security on June 15, 2012; or (6) an alien present in the United States without lawful status under the immigration laws (as such term is defined in section 101(a) of the Immigration and Nationality Act ( 8 U.S.C. 1101(a) )).
Where it is
In the House.