Donald Trump’s administration will bar green-card holders (read: legal, permanent residents) from receiving small business loans, threatening to further unravel the U.S. job market.
The Small Business Administration has barred green-card holders from receiving SBA loans and will expand that policy to SBA-backed loans from private companies starting in April, the Associated Press reported Monday. Additionally, any business that is even partially owned by a green-card holder will no longer be eligible for a small business loan.
Speaking at CPAC Saturday, SBA Administrator Kelly Loeffler touted the end of “DEI lending” to “foreign nationals.” Of course, the individuals affected by the policy change are not foreign nationals, but legal permanent residents who may have lived and worked for their entire lives in the United States.
The SBA’s blatantly racist policy is an extension of the administration’s nativist preference that is making the country poorer.
Immigrants are more likely to start businesses than those born in the U.S., and nearly half of Fortune 500 companies in 2025 were founded by immigrants or their children. SBA loans are an essential resource for foreign-born entrepreneurs, because they are typically low-interest and do not require a strong credit history.
This policy will undoubtedly wreak havoc on state economies that rely on immigrant-run businesses. For example, 99 percent of new jobs in California come from small businesses, and immigrant entrepreneurs account for 40 percent of the state’s economy.
As part of the Trump administration’s sweeping crackdown on immigrants—both legal and undocumented—the SBA’s new policy threatens to further unravel the U.S. job market, which has reached its lowest hiring levels since April 2020.
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