Ranking Members Markey, Velázquez, American Small Businesses Fight Back Against Trump SBA’s Discriminatory Anti-Immigrant Lending Policies
More than 120 small businesses and organizations pen letter of support for Ranking Member Markey’s resolution striking down Trump’s ban on awarding SBA loans to green card holders
(Washington, September 15) – Ranking Member Edward J. Markey (D-Mass.) today garnered additional support from Main Street small businesses for his Congressional Review Act (CRA) resolution to rescind the Trump administration’s discriminatory policy that bans green card holders from accessing essential Small Business Administration (SBA) loans. In a letter of support, more than 120 American small businesses and community organizations, led by Small Business Majority, applauded Ranking Member Markey’s efforts to overturn the Trump administration’s anti-immigrant lending ban and advocated for the passage of Ranking Member Markey’s CRA resolution in the Senate. House Small Business Committee Ranking Member Nydia M. Velázquez (D-NY-7) is leading the resolution in the House of Representatives.
The Trump administration’s green card holder ban is the most recent escalation of SBA’s draconian citizenship restrictions that are killing jobs and putting the American Dream further out of reach for entrepreneurs. In Fiscal Year 2025, Trump’s SBA made an estimated $5.5 billion in loans to green card holders, which supported more than 80,000 jobs nationwide.
“The Trump administration’s continued attacks on American small businesses and jobs are anti-American, they’re discriminatory, and they’re dragging down our communities and our economy. Thanks to partners like Small Business Majority, countless small businesses, and community organizations, we are fighting back and holding them accountable,” said Ranking Member Markey. “I will not stop fighting to rescind this hateful policy that attacks American entrepreneurs and prevents them from pursuing the American Dream.”
“Small businesses and organizations across the country are sending a clear message that the Trump administration's discriminatory lending rules are bad for business,” said Ranking Member Velázquez. “I want to thank Small Business Majority for leading this effort and amplifying the voices of the entrepreneurs who create jobs and strengthen our local economies. As Ranking Member of the House Small Business Committee, I will keep pushing to stop these attacks on the American Dream and ensure that every eligible entrepreneur can access the capital they need to succeed.”
In the letter, the small businesses write, “Congress must reaffirm its commitment to serving those who are rightfully and legally entitled to accessing key government guaranteed loan programs in pursuit of the American Dream. Restoring access to responsible, government-guaranteed loans for such a critical segment of our economy will allow thousands of small businesses to access the capital they require to grow and invest in American communities. If Congress does not act to protect access to the very ideals that our country was founded upon by rewarding those who adhere strictly to legal immigration pathways, local economies, communities and Main Street will pay the price.”
Ranking Member Markey’s CRA resolution follows his introduction of the Investing in the American Dream Act alongside Ranking Member Velázquez earlier this year. The Investing in the American Dream Act would roll back the SBA’s draconian lending restrictions and restore previous SBA lending policies for immigrant entrepreneurs lawfully in the U.S., including green card holders, refugees, and asylees. More than 100 organizations have called for the passage of the legislation and more than 60 Massachusetts state legislators have raised concerns about the impact of the citizenship restrictions in their local communities.
Ranking Member Markey is fighting for small business owners and immigrants that rely on SBA loans to start and run their businesses, create jobs, and contribute to their communities.
- In July, Ranking Member Markey and Ranking Member Velázquez introduced a bicameral resolution to rescind the Trump administration’s policy that bans green card holders from accessing essential SBA loans to start and grow their businesses and invest in Main Streets nationwide.
- In May, Ranking Member Markey highlighted the significant contributions of immigrant entrepreneurs in Massachusetts and across the country and condemned the Trump administration’s repeated attacks on immigrant communities at a Small Business Committee hearing. MIRA’s Elizabeth Sweet, who participated in Ranking Member Markey’s listening session earlier in May, provided testimony at the hearing.
- Also in May, Ranking Member Markey hosted a listening session at the Urban College of Boston to hear directly from several Massachusetts immigrant small business owners, lenders, and chambers of commerce how President Trump’s cruel and callous anti-immigrant policies are hurting Main Streets in the Bay State.
- Earlier in May, Ranking Member Markey hosted a press conference alongside Ranking Member Velázquez, Democratic lawmakers, and stakeholders to condemn the Trump administration’s harmful anti-immigrant lending policies and to introduce the Investing in the American Dream Act.
- In March, Ranking Member Markey released a comprehensive report detailing the harms to small business owners, workers, and consumers caused by the Trump administration’s ICE raids in communities across the country.
- In February, Ranking Member Markey introduced the Small Business ICE Disruption Fund Act, which would provide grants to small businesses that have been impacted by the Trump administration’s violent immigration enforcement actions on Main Streets across the United States.
- Earlier in February, Ranking Member Markey, Ranking Member Velázquez, Congressional Black Caucus Chair Yvette Clarke (D-N.Y.), Congressional Hispanic Caucus Chair Adriano Espaillat (D-N.Y.), and Congressional Asian Pacific American Caucus Chair Grace Meng (D-N.Y.) sent a letter urging the SBA to rescind their lending rule change that bars legal permanent residents from receiving SBA loans.
- Previously, Ranking Members Markey and Velázquez released a statement condemning the actions of the SBA after it announced that small businesses with legal permanent residents will be barred from receiving SBA loans.
- In December 2025, Ranking Member Markey and all Democratic members of the Senate Small Business Committee sent a letter to the SBA reiterating concerns with the SBA’s citizenship requirements and highlighting a drop in SBA lending volume.
- In September 2025, Ranking Member Markey heard directly from SBA lenders about the issues with the citizenship verification requirements.
- In July 2025, Ranking Members Markey and Velázquez sent a letter to the SBA expressing serious concerns with the agency’s new, draconian citizenship verification requirements that require small businesses seeking SBA loans to be 100% owned by U.S. citizens, nationals, and legal permanent residents.
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