Discussing the new rule banning all non-citizens from accessing the SBA 7a or 504 loans.
Discussing the SBAs new LPR policy that went into effect March 1, here's a clip of our interview with Chris Tomlinson of OptimumBank on his thoughts on the new rule banning all non-citizens from accessing the SBA 7a or 504 loans.
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Thanks Chris for joining us!
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This is a major development for SBA lenders. Restricting access to citizens only could significantly reshape the borrower pool, particularly in regions where immigrant-owned small businesses make up a large share of applicants.
Here in South Florida, for example, a substantial portion of small business formation comes from immigrant entrepreneurs, many of whom have historically relied on SBA programs as an entry point to traditional financing.
Interested to see how lenders adapt and whether this shifts more demand toward non-SBA funding sources.