Washington, March 10 (IANS) The US Small Business Administration (SBA) has announced a new policy barring foreign nationals and non-citizens from accessing federally backed small business loans, saying the move is aimed at prioritising American entrepreneurs amid rising demand for capital.The policy expands earlier restrictions and will apply across multiple SBA-guaranteed lending programmes, including the agency’s Surety Bond and Microloan programmes. Under the updated rule, applicants must b…
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Washington, Feb 5 (IANS) Top Democrats have criticised a new Small Business Administration policy that blocks businesses owned by legal permanent residents from getting SBA loans.They said the move hurts immigrant entrepreneurs and local economies.Sen. Edward J. Markey of Massachusetts and Rep. Nydia Velazquez of New York on Wednesday (local time) said the policy reverses decades of practice and shuts out lawful immigrants who run small businesses.“The Trump administration is stoking the flame…