{"ok":true,"canonical_url":"https://dealroom.so/glossary/legal-permanent-resident","api_url":"https://dealroom.so/api/public/glossary/legal-permanent-resident","data_freshness":{"sba_records_through":"2026-05-31","fdic_records_through":"2026-03-31","dealroom_last_updated":"2026-06-15","timezone":"America/Chicago"},"source_summary":["Public SBA 7(a) loan records","FDIC institution data","DealRoom lender and franchise enrichment"],"term":{"slug":"legal-permanent-resident","term":"Legal Permanent Resident","aka":"LPR","group":"People and paperwork","definition":"A non-US citizen who has been granted the right to live permanently in the US. For an SBA loan, LPR status is a common way for non-citizens to meet the citizenship eligibility requirement.","what_it_means":"If you're not a US citizen, you must hold Legal Permanent Resident status (evidenced by Form I-551) to qualify as a key principal for an SBA 7(a) loan. This is a critical eligibility check. Ensure your documentation is current and readily available for the lender to review.","url":"https://dealroom.so/glossary/legal-permanent-resident","official_sources":[{"slug":"13-cfr-part-120","title":"13 CFR Part 120 — Business Loans","official_url":"https://www.ecfr.gov/current/title-13/chapter-I/part-120","official_label":"View on eCFR","authority_tier":1,"publisher":"Office of the Federal Register","source_guide_url":"https://dealroom.so/sba-7a/sources/13-cfr-part-120"},{"slug":"sop-50-10","title":"SOP 50 10 — Lender and Development Company Loan Programs","official_url":"https://www.sba.gov/document/sop-50-10-lender-development-company-loan-programs","official_label":"View on SBA.gov","authority_tier":2,"publisher":"U.S. Small Business Administration","source_guide_url":"https://dealroom.so/sba-7a/sources/sop-50-10"}],"related":[{"slug":"qualified-alien","term":"Qualified Alien","url":"https://dealroom.so/glossary/qualified-alien"},{"slug":"form-i-551","term":"Form I-551","url":"https://dealroom.so/glossary/form-i-551"},{"slug":"key-principal","term":"Key principal","url":"https://dealroom.so/glossary/key-principal"},{"slug":"eligibility-rule","term":"Eligibility Rule","url":"https://dealroom.so/glossary/eligibility-rule"}],"related_questions":[{"question":"What specific documentation must a lender collect to verify the legal residency status of a lawful permanent resident owner?","url":"https://dealroom.so/for-lenders/questions/what-specific-documentation-must-a-lender-collect-to-verify-the-legal-residency-status-of-"},{"question":"Can a permanent resident apply for an SBA 7(a) loan?","url":"https://dealroom.so/sba-loans/basics/can-a-permanent-resident-apply-for-an-sba-7-a-loan"},{"question":"How does a lender verify the lawful permanent resident status of a non-citizen applicant?","url":"https://dealroom.so/for-lenders/questions/how-does-a-lender-verify-the-lawful-permanent-resident-status-of-a-non-citizen-applicant"},{"question":"What specific documentation is required to verify a non-citizen owner's lawful permanent resident status?","url":"https://dealroom.so/for-lenders/questions/what-specific-documentation-is-required-to-verify-a-non-citizen-owner-s-lawful-permanent-r"},{"question":"Can a U.S. Green Card holder (Permanent Resident) be an eligible applicant for a 7(a) loan?","url":"https://dealroom.so/for-lenders/questions/can-a-u-s-green-card-holder-permanent-resident-be-an-eligible-applicant-for-a-7-a-loan"},{"question":"Do I need to be a US citizen or permanent resident to get an SBA 7(a) loan?","url":"https://dealroom.so/sba-loans/basics/do-i-need-to-be-a-us-citizen-or-permanent-resident-to-get-an-sba-7-a-loan"}]},"caveats":["Definitions represent DealRoom's plain-English interpretation for buyers; verify regulatory terms against the official SBA and eCFR sources listed.","Not legal, tax, or financial advice, and not an SBA eligibility determination."],"citation":{"label":"DealRoom.so Glossary — Legal Permanent Resident","url":"https://dealroom.so/glossary/legal-permanent-resident","source_type":"DealRoom Data"}}