THE MORNING RANT: The SBA Will Stop Lending to Non-Citizens

While I sometime grimace at President Trump’s social media posts, it appears that (intentionally or not) they also keep his adversaries so distracted that major conservative victories go virtually unnoticed by left-wing outrage mobs. As Democrats and the media have flailed like a cat chasing a laser pointer, accusing Trump of being all the epithets that end with “-ist” and “-phobic,” Trump keeps racking up victories on core conservative issues.

Ace documented one major victory a few days ago in a piece titled, “Trump Ends Obama Executive Order Giving the EPA the Power to Regulate Carbon Dioxide Without Any Congressional Authorization.” From the much-despised start-stop ignition feature in your car, to the industry-crushing environmental regulations based on CO2 being a “pollutant,” the environmental command and control structure imposed by Barack Obama is hereby terminated.

Now, another major America-first action has just been taken, as Kelly Loeffler, the Administrator overseeing the Small Business Administration, has just announced that SBA funds will only be loaned to companies 100% owned by US Citizens. As documented in an SBA Policy Notice effective March 1, 2026, “SBA is requiring that 100% of all direct and/or indirect owners of a small business applicant be U.S. Citizens or U.S. Nationals who have their Principal Residence in the United States, its territories, or possessions.

This further tightens SBA controls regarding the funding of businesses owned by non-citizens. It was just a year ago that Administrator Loeffler announced a series of reforms requiring majority ownership by citizens, along with proof of citizenship, as well as a new prohibition on SBA lending to illegal aliens. At that time, she also announced that the SBA was moving its offices out of “sanctuary cities” which are in defiance of federal law.

While there has certainly been SBA fraud, including the diversion of funds to foreign countries, the issue is more so about prioritizing Americans, and not using taxpayer dollars to create businesses which then employ foreign labor. It just logically doesn’t make sense for the federal government to provide the capital and lending risk for a green-card holder to buy a hotel or convenience store, and then have it staffed with H1B labor or foreign nationals from his home country. That process results in a loss of jobs for U.S. citizens, not increased jobs.

Legal U.S. residents who are citizens of other countries are still free to start businesses here, but they must find the start-up capital through their own networks. The purpose of the SBA is to provide taxpayer-funded loans to businesses that will provide jobs and wealth creation to U.S. citizens. President Trump and Administrator Loeffler deserve praise for putting proper controls back on SBA lending.

They Never Stop. They Never Sleep. They Never Quit.*

My latest piece at The American Spectator, “Blue States Are Moving Legislation Forward to Restrict How Much You Can Drive,” has been published.

The blue states that have been most enthusiastic about getting you out of your gasoline-powered car during the failed “EV transition” are already moving on to the inevitable next battle against personal driving freedom. Legislation is being introduced in Democrat strongholds to set mileage caps and/or to impose punitive mileage taxes on those who persist in wanting to drive a car.

This piece is not behind a paywall. I’d be honored if you’d give it a read.

Defeating the EV mandate and compelling automakers to refocus on gasoline-powered vehicles was a huge victory. But it was just one battle that we won, not the war. The battle to preserve our driving freedom continues, and we must stop the momentum of those trying to impose mileage caps and mileage taxes.

(*”They never stop, they never sleep, they never quit” is a quote from the great Michael Walsh on the left’s dogged persistence in imposing their anti-freedom agenda on the rest of us.)

[buck.throckmorton at protonmail dot com]

posted by Buck Throckmorton at 11:00 AM

| Access Comments