Bill would clarify which immigrants qualify for SBA small business loans
In committeeH.R. 8563Latest action
Sponsor: Nydia M. Velázquez · Representative · NY
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Official title: Investing in the American Dream Act
119th Congress
Topics: Jobs & the economy
Introduced:
Read the official bill on Congress.govIn plain words
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HR 8563 would let DACA recipients, refugees, asylees and certain visa holders qualify for SBA loans if they meet ownership rules.
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What does this do?
HR 8563 clarifies who can own a small business that receives SBA-guaranteed loans, microloans, investment loans, and surety bond guarantees. A business qualifies if it's U.S.-based and at least 51 percent owned and controlled by U.S. citizens, nationals, or other "eligible individuals" with lawful presence and work authorization. It lists specific categories of eligible individuals, including asylees, refugees, certain visa holders, lawful permanent residents, and DACA recipients.
Who does it affect?
Immigrant small business owners with legal status, including DACA recipients, refugees, asylees, and certain visa holders, as well as banks and lenders that work with the SBA.
Why does it matter?
The bill would prevent loan denial based solely on ownership by these eligible individuals, while keeping the 51 percent ownership requirement fixed and not expanding SBA's authority to change it.
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Where does it stand?
- IntroducedApr 28, 2026
- House committeeYou are here · Apr 28, 2026
- House vote
- Senate
- The president's desk
Right now: a House committee is reviewing it. If the Senate changes it, it goes back to the House before reaching the president.
Latest action: — Referred to the House Committee on Small Business.