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American Entrepreneurs First Act of 2025

6/11/2025, 3:53 AM

Summary of Bill HR 2966

H.R. 2966, introduced in the 119th Congress on April 17, 2025, aims to mandate the Administrator of the Small Business Administration to compel specific citizenship status documentation from applicants seeking certain loans from the Administration, among other purposes.

Congressional Summary of HR 2966

American Entrepreneurs First Act

This bill revises the application requirements for the Small Business Administration's 7(a) loan and 504 loan programs.

Specifically, the bill requires applications for such loans to include (1) the applicant's date of birth; and (2) a certification that the applicant or all beneficial owners are citizens, nationals, or lawful permanent residents of the United States.

The bill specifies that certain individuals are ineligible for such loans, including (1) asylees, (2) refugees, (3) individuals issued a visa to remain in the United States, (4) individuals legally classified as nonimmigrants, (5) individuals to whom deferred action has been granted pursuant to the Deferred Action for Childhood Arrivals, and (6) individuals without lawful status under the immigration laws of the United States.

Read the Full Bill

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Current Status of Bill HR 2966

Bill HR 2966 is currently in the status of Introduced to Senate since June 9, 2025. Bill HR 2966 was introduced during Congress 119 and was introduced to the House on April 17, 2025.  Bill HR 2966's most recent activity was Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship. as of June 9, 2025

Bipartisan Support of Bill HR 2966

Total Number of Sponsors
18
Democrat Sponsors
0
Republican Sponsors
18
Unaffiliated Sponsors
0
Total Number of Cosponsors
1
Democrat Cosponsors
0
Republican Cosponsors
1
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 2966

Primary Policy Focus

Commerce

Alternate Title(s) of Bill HR 2966

To require the Administrator of the Small Business Administration to require an applicant for certain loans of the Administration to provide certain citizenship status documentation, and for other purposes.
To require the Administrator of the Small Business Administration to require an applicant for certain loans of the Administration to provide certain citizenship status documentation, and for other purposes.

Comments

Cason Ross profile image

Cason Ross

777

10 months ago

Not good for me.

Lainey Franklin profile image

Lainey Franklin

784

10 months ago

I think this bill could have some unintended consequences, but we'll have to wait and see.

Sponsors and Cosponsors of HR 2966

Beth Van Duyne
Beth Van Duyne
TexasRepublican
Michael Cloud
Michael Cloud
TexasRepublican

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