Adds new application questions and status certifications for SBA 7(a) and 504 loans. Limits these loans to U.S. citizens, U.S. nationals, and lawful permanent residents, including a 100% ownership rule for business applicants and guarantors.
Modern Action explains what the legislation does, helps you choose whether to support, oppose, or ask for changes, and drafts a message tied to the bill, your stance, and the elected officials who can act on it.
American Entrepreneurs First Act of 2025 is a Senate bill in committee. The latest recorded action: Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
Latest action on H.R. 2966: Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
Who this affects: This affects people and businesses applying for SBA 7(a) or 504 loans, plus lenders processing those loans and any guarantors tied to them. It also affects business owners and investors because eligibility depends on every direct and indirect owner’s status, not just the main operator. People who are asylees, refugees, in the U.S. on visas or other nonimmigrant categories, DACA recipients, or without lawful status would be blocked from these loans if the bill becomes law, even if they are otherwise running a qualifying small business.
Why this matters: SBA 7(a) and 504 loans are major financing tools for small businesses, and this bill would change who can access them and what paperwork is required. By tying eligibility to specific citizenship and immigration categories—and by requiring 100% eligible ownership for business applicants and guarantors—it could reshape which businesses can qualify, especially those with mixed ownership or complex ownership structures. It could also change how lenders document and screen applications, which may affect processing and approvals. The bill itself does not spell out the overall economic impact, so the broader effects on entrepreneurship and local economies are uncertain from the text alone.
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Officially: American Entrepreneurs First Act of 2025
Adds new application questions and status certifications for SBA 7(a) and 504 loans. Limits these loans to U.S. citizens, U.S. nationals, and lawful permanent residents, including a 100% ownership rule for business applicants and guarantors.
Use this page to support, oppose, or ask Congress to amend H.R.2966. Modern Action explains what the bill does, helps identify the right senators or representative, and drafts a bill-specific message you can edit and send.
Where it stands
Sitting in Small Business and Entrepreneurship
No vote scheduled. Constituent contact is what moves bills out of committee.
↓ Why your message matters here
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Where this bill is in the process
Introduced
Introduced in House
House Committee
Under House committee consideration
House Floor Vote
Voted on by House
Passed House
Approved by House
Senate Review
Sent to Senate for consideration
Latest: Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship. (6/9/2025)
Passed Both Chambers
Approved by both House and Senate
Signed into Law
Signed by the President
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This page gives you an opportunity to support, oppose, or ask for changes to American Entrepreneurs First Act of 2025, then contact the elected officials who can act. Modern Action drafts the message from your position and the reasons you select.
Modern Action keeps the action tied to the bill itself: what it does, where it is in the process (committee), which office can still act, and what ask belongs in the message.
You are not starting from a blank form. Modern Action drafts the message around H.R.2966, your stance, and the reasons you choose, then lets you edit and send when ready.
