Clarifies eligibility for small business loans, including for certain non-citizens.
The Investing in the American Dream Act clarifies eligibility for small business loans, ensuring that certain non-citizens can qualify. Eligible individuals include those lawfully present and authorized to work in the U.S., such as nonimmigrants, lawful permanent residents, and those granted deferred action. The act defines "covered loan" to include various types of loans and guarantees. A small business concern must be located in the U.S. and at least 51% owned by U.S. citizens or nationals, or eligible individuals.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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