Can I get SBA (7a) loan as non-resident alien?

August 18, 2021

by a searcher from INSEAD in Lucerne, Switzerland

Preliminary investigation:

Dear SF community, as an Alien (Swiss), not in USA, would setting up an LLC allow me to get a SBA (7a) to acquire a business?
or Would getting an entrepreneur Visa allow me to get a SBA? (Target is SBA prequalified and rev+CF "may support visa"?

If a SBA is not available could somebody please point me in the direction of banks that would support Factoring and loans against assets for an LBO I would like to consider in Florida?

Thank you.

Regards Marcel

#funding

Reply by an intermediary
in Charlotte, NC, USA

This is new information and I need to understand more. Apparently we have a new EO that says resident aliens (perm residents, green card) are no longer eligible for SBA. https://thebusinessjournal.com/sba-bars-green-card-holders-from-business-loan-ownership-starting-march-1/

Reply by a lender
in Yorba Linda, CA, USA

Hi Marcel, In order for a business to be SBA-eligible, 51% or more must be owned by either US Citizens or green card holders. The SBA won't accept a Visa of any kind for this rule, unfortunately. We also provide conventional loans for acquisitions provided the company has a minimum EBITDA of $1.75 million.

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