Glossary · People and paperwork
In short
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.
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.
13 CFR Part 120 — Business Loans
Office of the Federal Register · Federal regulation
SOP 50 10 — Lender and Development Company Loan Programs
U.S. Small Business Administration · SBA Standard Operating Procedure
Last checked 2026-06-15. Official sources control — verify before relying on any rule for a live deal.
Defined by DealRoom.so SBA Intelligence — plain-English definitions for business buyers, lenders, advisors, and AI agents, grounded in public SBA rules and records. Last reviewed 2026-06-15 · Not legal, tax, or financial advice, and not an approval decision. Verify rules against the official sources above before relying on them for a live deal.
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