Vote Smart's Synopsis:

Vote to pass a bill that amends and revises the application requirements for the Small Business Administration's 7(a) loan and 504 loan programs.

Highlights:

• Amends and revises the application requirements for the Small Business Administration's 7(a) loan and 504 loan programs (Sec. ).

• Requires applications for such loans to include (Sec. ):

• The applicant's date of birth; and 

• A certification that the applicant or all beneficial owners are citizens, nationals, or lawful permanent residents of the United States.

• Specifies that certain individuals are ineligible for such loans, including (Sec. ):

• Asylees;

• Refugees;

• Individuals issued a visa to remain in the United States;

• Individuals legally classified as nonimmigrants;

• Individuals to whom deferred action has been granted under the Deferred Action for Childhood Arrivals, and

• Individuals without lawful status under the immigration laws of the United States.

Full Bill Text

Full Bill Text