WASHINGTON—The U.S. House of Representatives on June 6 passed a bill that would bar most foreign nationals, whether lawfully or unlawfully present, from receiving taxpayer-funded loans to start small businesses in the United States.
The Small Business Administration (SBA) is an independent agency of the United States government, headed by a cabinet-level administrator, that seeks to promote small businesses and the jobs they create, most commonly by providing them with loans and other financial assistance, including after disasters and emergencies. During the COVID-19 pandemic, the SBA was responsible for doling out over $1 trillion of assistance to small businesses, primarily through the Paycheck Protection Program and Economic Injury Disaster Loans.
