Passed in the House on June 6, 2025 · 217 Yea, 190 Nay, 25 Not Voting
Question: On Passage: H R 2966 American Entrepreneurs First Act
In plain English: This bill changes the rules for applying for certain Small Business Administration loans, requiring applicants to provide their birth date and confirm their citizenship or lawful residency status. It also makes certain individuals, like refugees and those with deferred action, ineligible for these loans.
American Entrepreneurs First Act This bill revises the application requirements for the Small Business Administration's 7(a) loan and 504 loan programs. Specifically, the bill requires applications for such loans to include (1) the applicant's date of birth; and (2) a certification that the applicant or all beneficial owners are citizens, nationals, or lawful permanent residents of the United States. The bill specifies that certain individuals are ineligible for such loans, including (1) asylees…