Changes to federal Small Business Administration lending rules are creating new obstacles for legal immigrants who want to start their own businesses in the United States.
The updated SBA policies now prohibit non-citizens from obtaining the government-backed loans that many entrepreneurs rely on to launch their ventures, regardless of their legal immigration status.
NPR’s Scott Simon recently interviewed immigrant entrepreneur Cristina Foanene to discuss how these regulatory changes have impacted her journey to secure financing for her business startup.
The conversation highlighted the challenges that legal immigrants now face when trying to access traditional small business funding options that were previously available to them.
These policy modifications represent a significant shift in how the federal government approaches small business lending to immigrant communities across the country.
