On March 1st, the Small Business Administration will no longer consider applications where an LPR owns or co-owns a business -even a small percentage-.
Applying for a loan through the SBA, guarantees lower interest rates, longer terms and lower down payments, but LPR's no longer have this option.
Legal permanent residents are now part of the list of ineligible persons which in the past, just included undocumented aliens and individuals granted asylum, refugees, visa holders and nonimmigrant aliens.
This decision will particularly affect businesses co-owned by spouses, where one is a US citizen and the other, an LPR.