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Posted on 02/04/2026 6:47:38 PM PST by Olog-hai
President Donald Trump’s Small Business Administration (SBA) is stopping the issuance of small business loans to foreign nationals, requiring that a business be 100 percent owned by a U.S. citizen or U.S. national to receive such a loan.
This week, the SBA published a memo requiring that, beginning next month, applicants for the agency’s primary small business loan be American citizens or American nationals.
“… effective March 1, 2026, SBA hereby revises Standard Operating Procedure 50 10 8 Lender and Development Company Loan Programs guidance related to businesses owned by non-U.S. citizens,” the memo states. […]
Closing the small business loan loophole comes after the SBA suspended almost 7,000 pandemic-era loans for borrowers in Minnesota due to “suspected fraud activity,” according to Administrator Kelly Loeffler. …
(Excerpt) Read more at breitbart.com ...
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The Scamdemic haunts America still.
Good. My wife is a Filipino Legal Resident Alien. She wholeheartedly agrees with the decision. She is an RN and pays YUUge taxes. Very angry that her pay is taxed to fund liars and scammers who are aided and abetted by our government and politicians.
Why has this not always been the case?
L
For the same reason Learing Centers get US tax payer monies.
Finally. This has been burning my sphincter for a couple decades.
YAY
I don’t know about all the wrinkles of the regs, but this sounds to me like Trump has just prohibited any foreign investment in U.S. companies that also seek federal loan support.
I can readily understand and support requiring majority or even preponderant U.S. ownership and strict regulation (and enforcement) to police the fraud artists.
But broadly speaking, foreigners investing to help grow American businesses, including small businesses, is a good thing, not a bad thing.
YAY!!!
“SMALL business loans”
They’ll just find someone to act as a legit applicant, and they’ll be fine.
WBE/MBE businesses have been doing it since the ‘80s (that I know of).
This week my rather innocent neighbor was all impressed about the the successful women in our area. “Susie owns her business, and John (husband) works for her. Mary owns her own business, and Bob (husband) works for her.”
Then I explained how it’s so much easier for a woman to get government funds and accommodations. The men just put it in wives’names. She’d never heard of that before.
Small businesses probably aren’t on the radar screens of most foreign investors, but I can imagine many niches where that might happen. Family connections would be one. Longtime supplier, subcontractor or vendor relationships would be another. Active participation in some small market niche would be a third.
A company doesn’t have to be on the Fortune 500 list to have international ties.
🎈🎈🎈🎈
More winning!
I know people who have done that.
That’s money laundering.
KEEPS SQUEEZING-——
Well, DUH!
As of January 2026, the U.S. Small Business Administration (SBA) suspended nearly 7,000 Minnesota borrowers—-——many of whom are of Somalis————due to suspected fraud in COVID-19 relief loans, with total approved PPP and EIDL loans amounting to approximately $400 million, MPR News reported.
These individuals may be banned from future SBA programs and face federal prosecution, with loans potentially subject to repayment, according to NPR.
Loan Total: ~7,900 PPP and EIDL loans totaling approximately $400 million.
Nearly 7,000 individuals in Minnesota.
The investigation stems from fraud scandals involving Minnesota-based non-profits, including cases linked to the Somali fraud——Feeding Our Future organization.
The SBA is actively working to claw back funds, with Administrator Kelly Loeffler indicating that cases are being referred to federal law enforcement.
Specific Somali-led organizations, including those involved in the $1 billion Minnesota fraud scandal, were found to have received at least $2.5 million in loans.
SBA suspends nearly 7,000 Minnesota borrowers over COVID ...
Jan 2, 2026 — “In total, these borrowers were approved for 7,900 PPP (Paycheck Protection Program) and EIDL loans (Economic Injury Disaster Loans)...
“That’s money laundering.”
Money laundering blessed by the government.
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