H.R. 2966 · Passed House · Commerce

American Entrepreneurs First Act of 2025

Sponsor: Beth Van Duyne (R-TX)

What it does

• Requires applicants for SBA 7(a) and 504 loans to provide their date of birth.
• Requires a certification that the applicant or all beneficial owners are U.S. citizens, nationals, or lawful permanent residents.
• Makes asylees, refugees, visa holders, nonimmigrants, DACA recipients, and individuals without lawful immigration status ineligible for those loans.

Official summary

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, (2) refugees, (3) individuals issued a visa to remain in the United States, (4) individuals legally classified as nonimmigrants, (5) individuals to whom deferred action has been granted pursuant to the Deferred Action for Childhood Arrivals, and (6) individuals without lawful status under the immigration laws of the United States.

Latest action

Jun 9, 2025: Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.

Committee: Senate Small Business and Entrepreneurship