SBA rules · SOP 50 10 8.1

Can a visa holder get an SBA loan?

No, foreign nationals holding a visa (non-immigrant aliens) are not eligible to own or guarantee an Applicant business for an SBA loan.

Quoted from SBA SOP 50 10 8.1Every quote checked word for word

In detail

Ineligible Person definition: A visa holder or non-immigrant alien under 8 U.S.C. § 1101(a)(15) is classified as an Ineligible Person.
Ownership and guaranty restriction: SBA financing is restricted to businesses where 100% of direct and indirect owners and SBA-required guarantors are U.S. Citizens or U.S. Nationals who have their principal residence in the United States, its territories, or possessions, and no loan may be made if any direct or indirect owner or SBA-required guarantor is an Ineligible Person.
Divestiture requirements: An Applicant business with an Ineligible Person as an owner is ineligible unless the Ineligible Person completely divests all ownership prior to the date the SBA loan number is issued, subject to a 6-month lookback rule.
Limited exception: An Ineligible Person (except for an undocumented alien in the U.S. illegally) may only provide a limited guaranty when required by the lender for approval or by SBA to support the pledge of jointly held required collateral.

The source

What the SOP says

“An individual granted asylum, a refugee, a visa holder, a non-immigrant alien under 8 U.S.C. § 1101(a)(15), or those under Deferred Action for Childhood Arrivals (DACA);

SOP 50 10 8.1, Appendix 3: Definitions > Indirect Export (lines 4326-4335)✓ Verified

“SBA financing is limited to business Applicants with 100% direct and/or indirect owners and SBA-required guarantors, all of whom must be U.S. Citizens or U.S. Nationals who have their Principal Residence in the United States, its territories, or possessions.

SOP 50 10 8.1, Chapter 1: Primary Applicant Eligibility Requirements > Citizenship And Residency Requirements (lines 530-532)✓ Verified

“No loan may be made if any direct or indirect owner or SBA-required guarantor is an Ineligible Person.

SOP 50 10 8.1, Chapter 1: Primary Applicant Eligibility Requirements > Citizenship And Residency Requirements (lines 530-532)✓ Verified

“Direct/Indirect Owners: If a direct or indirect owner is an Ineligible Person, the business is ineligible unless the Ineligible Person completely divests their ownership prior to the date of issuance of the SBA loan number.

SOP 50 10 8.1, Chapter 1: Primary Applicant Eligibility Requirements > Direct/Indirect Owners (lines 533-537)✓ Verified

“When a limited or supplemental guaranty is required by the Lender for their approval, or by SBA to support the pledge of jointly held required collateral, an Ineligible Person (except for undocumented aliens who are in the U.S. illegally) may provide a limited guaranty.

SOP 50 10 8.1, Chapter 1: Primary Applicant Eligibility Requirements > Direct/Indirect Owners (lines 533-537)✓ Verified

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