Investing in the American Dream Act

This bill sets who can qualify for certain Small Business Administration programs, including 7(a) loans, microloans, 504 loans under the Small Business Investment Act, and surety bond guarantees. To qualify, a small business must be located in the United States and be at least 51 percent owned and controlled by U.S. citizens or nationals, or by certain noncitizens. Those noncitizens include green card holders, refugees, people granted asylum, nonimmigrant visa holders whose stay has not expired, and people with deferred action under the 2012 childhood arrivals (DACA) policy. Noncitizen owners must be lawfully present and authorized to work in the U.S. when the business applies. The bill bars denying a loan because a business is owned by these individuals if it meets the requirements, and it does not let the SBA raise the 51 percent ownership threshold.

Full text and official record on Congress.gov

Sponsors

• Edward J. Markey Democrat sponsor
• 23 cosponsors