Small Business
SBA bars businesses with any noncitizen owners from its main 7(a) and 504 loan programs
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The U.S. Small Business Administration has made companies ineligible for SBA-backed 7(a) and 504 loans if any portion of the business is owned, directly or indirectly, by someone who is not a U.S. citizen or U.S. national—excluding legal permanent residents who previously qualified. The change took effect March 1, 2026, and has drawn pushback from some Democrats and small-business advocates.
Korean card companies are shifting toward loans for sole proprietors and small businesses as regulators tighten rules on household debt. The move follows summons by the Financial Supervisory Service this week after several issuers exceeded targets for card loan balances. Industry officials cite regulatory pressure and limited growth options in consumer lending as key drivers.
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Minister of Small Business Development Stella Ndabeni tabled a R3.036 billion budget for the 2026/27 financial year on Tuesday. The allocation aims to support small enterprises, cooperatives and spaza shops across South Africa.