For SBA lenders
Short answer
Lenders must collect specific documentation to verify the legal residency status of a lawful permanent resident owner. This includes a copy of Form I-551, Alien Registration Card (Green Card), or other acceptable evidence.
SBA rules require that U.S. citizens or lawful permanent residents own at least 51% of the applicant business. For lawful permanent residents, the lender must obtain a copy of the Permanent Resident Card (Form I-551) and verify its validity. Other forms of evidence, such as a foreign passport with an I-551 stamp, may also be acceptable if verified.
A borrower, a lawful permanent resident, applies for a $500,000 SBA 7(a) loan. The lender verifies the borrower's eligibility by obtaining a clear, current copy of their Form I-551 (Green Card) and confirming its validity through official channels if necessary.
13 CFR Part 120 — Business Loans
Office of the Federal Register · Federal regulation
SOP 50 10 - Lender and Development Company Loan Programs
Policy Notice 5000-876441 - Citizenship and Residency Requirements
Procedural Notice 5000-876626 - Revised Applicant Ownership, Citizenship and Residency
Last checked 2026-06-13. Official sources control — verify before relying on any rule for a live deal.
Last reviewed 2026-06-13 · SBA sources checked through 2026-06-13. DealRoom analysis of public SBA 7(a) lending records (FY2020–present). Grounded in the current SBA rulebook; verify against the official sources above before relying on it for a live deal. Not legal, tax, or financial advice, and not an approval decision.
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