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SBA Updates Citizenship Requirements for 7(a) & 504 Loans - BLP - Business Lending Partners

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SBA Updates Citizenship Requirements for 7(a) & 504 Loans

The U.S. Small Business Administration (SBA) has announced a significant update to ownership eligibility requirements for its 7(a) and 504 loan programs. The new policy takes effect March 1, 2026, and will impact all new loan applications.

Key Changes

100% U.S. Citizenship or National Status Required

All direct and indirect owners must be U.S. Citizens or U.S. Nationals with a principal residence in the United States, its territories, or possessions. This applies to:

The Applicant/Borrower
The Operating Company
Any Real Estate Holding Company

Legal Permanent Residents No Longer Eligible

Legal Permanent Residents (LPRs) may no longer own any percentage of an SBA 7(a) or 504 loan applicant entity.

What Borrowers Should Do

Confirm 100% eligible ownership at the start of every transaction
Review ownership structures carefully, including indirect interests

If you have questions about how this update may affect your eligibility, the BLP team is here to help guide you through the process. Connect with the BLP team to learn how we can support your lending strategy—contact Wesley Walsh (Southern Wisconsin) or Grace Kieckbusch (Northern Wisconsin) today!

CONTACT US FOR YOUR BUSINESS LENDING NEEDS

Grace Kieckbusch

Vice President & Loan Officer

Grace Kieckbusch is a commercial lender who loves finding financing solutions that help small businesses thrive. A Magna Cum Laude graduate of UW–Parkside, she began her career at BLP after interning with the team during college.

Green Bay Office920.384.0385 Grace@blp504.org

Wesley Walsh

Vice President & Loan Officer

Wesley Walsh is a commercial lender passionate about helping small businesses. A Magna Cum Laude graduate of UW-Eau Claire, he’s interned at Associated Bank and worked at Tri City National Bank.

Racine Office262.898.7436 Wesley@blp504.org