{"ok":true,"canonical_url":"https://dealroom.so/glossary/residency-verification","api_url":"https://dealroom.so/api/public/glossary/residency-verification","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":"residency-verification","term":"Residency Verification","group":"People and paperwork","definition":"This is the process where the lender confirms that all owners of 20% or more of the business meet the SBA's U.S. citizen or Qualified Alien residency requirement. It's a mandatory part of the loan application.","what_it_means":"Your lender will ask for specific documents to complete Residency Verification, such as a U.S. passport, birth certificate, or Form I-551 (Green Card). Ensure these documents are current and readily available. Delays in providing proper verification can hold up your loan approval.","url":"https://dealroom.so/glossary/residency-verification","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":"residency-requirement","term":"Residency Requirement","url":"https://dealroom.so/glossary/residency-requirement"},{"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":"form-1919","term":"Form 1919","url":"https://dealroom.so/glossary/form-1919"}],"related_questions":[{"question":"If I receive a gift from a foreign relative for my down payment, what specific verification is needed?","url":"https://dealroom.so/sba-7a/questions/if-i-receive-a-gift-from-a-foreign-relative-for-my-down-payment-what-specific-verification"},{"question":"Are there citizenship or residency requirements for SBA 7(a) loan applicants?","url":"https://dealroom.so/sba-loans/basics/are-there-citizenship-or-residency-requirements-for-sba-7-a-loan-applicants"},{"question":"What are the citizenship or residency rules for SBA 7(a) loan applicants?","url":"https://dealroom.so/sba-loans/basics/what-are-the-citizenship-or-residency-rules-for-sba-7-a-loan-applicants"},{"question":"Are there specific citizenship or residency requirements for SBA 7(a) loan applicants?","url":"https://dealroom.so/sba-loans/basics/are-there-specific-citizenship-or-residency-requirements-for-sba-7-a-loan-applicants"},{"question":"What are the citizenship or residency requirements for a 7(a) loan applicant?","url":"https://dealroom.so/for-lenders/questions/what-are-the-citizenship-or-residency-requirements-for-a-7-a-loan-applicant"},{"question":"Can a Qualified Alien without permanent residency obtain an SBA 7(a) loan?","url":"https://dealroom.so/for-lenders/questions/can-a-qualified-alien-without-permanent-residency-obtain-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 — Residency Verification","url":"https://dealroom.so/glossary/residency-verification","source_type":"DealRoom Data"}}