"The SBA limited access to its loans to U.S. citizens and nationals only starting in March, and expanded that policy to SBA-backed loans beginning April 1."
"California - which has the most small businesses and the largest immigrant population in the nation - could be most affected."
"Small business owners are responsible for 99% of net new jobs in the state, according to the California Office of the Small Business Advocate."
"Small Business Majority, a national business advocacy group, wrote to the SBA in mid-March, urging the federal agency to reconsider the changes."
Non-U.S. citizens, including green-card holders, have lost access to Small Business Administration (SBA) funding, which has historically supported immigrant entrepreneurs. This policy change restricts loans to U.S. citizens and nationals, affecting businesses partially owned by permanent residents. California, with its significant immigrant population and small business sector, faces potential economic harm as immigrant entrepreneurs contribute substantially to job creation and income generation. Advocacy groups have urged the SBA to reconsider these changes, citing the importance of immigrant contributions to the economy.
Read at San Jose Inside
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