Should we be subsidizing small business loans for foreigners? Should we be doing so at the expense of Americans? Should Americans have to wait in line behind foreigners to get loans. Bizarrely enough we have been doing all of the above.
But in February, the Small Business Administration under Kelly Loeffler issued a policy notice effective March stating that “100% of all direct and/or indirect owners of a small business applicant be U.S. Citizens or U.S. Nationals who have their Principal Residence in the United States, its territories, or possessions.”
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