On March 9, the SBA released a notice prohibiting foreign nationals and non-citizens from accessing all agency-backed loans. The notice provided that applicants of foreign national status would be ineligible to qualify for the agency’s Surety Bond and Microloan programs. This measure builds upon a prior action rendering businesses owned by foreign nationals ineligible for the agency’s 504 and 7(a) loan programs. The agency argued limiting loan applications to U.S. citizens and U.S. nationals with their principal residence in the United States would reserve lending capacity for domestic “job creators.” The SBA characterized the measure as a response to “record demand” for capital, with the agency’s lending being capped annually by Congress, and as part of a broader effort to prioritize U.S. citizens. The notice cited data from fiscal year 2025, showing the SBA approved 3,358 loans for businesses owned partly by lawful permanent residents, representing 4% of its total 85,000 loan approvals during that year.