What does Preamble of Investing in the American Dream Act do?

This bill is formally titled 'To clarify eligibility for small business loans, and for other purposes.'

What does SHORT TITLE. of Investing in the American Dream Act do?

This bill is formally titled the Investing in the American Dream Act.

What does DEFINITIONS. of Investing in the American Dream Act do?

This section defines key terms used within the Act. A 'covered loan' includes loans guaranteed under the Small Business Act (sections 7(a) and 7(m)), loans guaranteed under Title V of the Small Business Investment Act of 1958, and surety bond guarantees from the Small Business Administration. An 'eligible individual' includes certain aliens, specifically those granted asylum, refugees, nonimmigrants with an expired authorized stay, lawful permanent residents (including conditional residents), and aliens with deferred action under the DACA memorandum. The term also includes individuals whose principal residence is outside the United States and its territories and possessions. The definition of 'small business concern' is the same as that provided in section 3 of the Small Business Act.

What does ELIGIBILITY FOR BUSINESS LOANS. of Investing in the American Dream Act do?

This section establishes eligibility requirements for small business concerns seeking covered loans. To be eligible, a small business concern must be located in the United States. The business must also be at least 51 percent owned and controlled by U.S. citizens, nationals, or eligible individuals lawfully present and authorized to be employed in the United States. A small business concern cannot be denied eligibility solely because it is owned by eligible individuals, provided it meets the requirements outlined in subsection (a). This section prohibits the Small Business Administration from increasing the ownership percentage requirement specified in subsection (a)(2).

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Investing in the American Dream Act

Last updated: 4/28/2026 · Introduced: 4/28/2026

Author: Nydia Velázquez (D-NY)

TL;DR (AI)

The bill expands eligibility for Small Business Administration (SBA) loans to include certain non-citizens, such as refugees and DACA recipients, who meet ownership and residency requirements.
To qualify, a small business concern must be located in the United States and at least 51 percent owned and controlled by U.S. citizens, nationals, or eligible individuals lawfully authorized to work.
The Small Business Administration is prohibited from raising the ownership percentage requirement for businesses owned by eligible individuals to qualify for these loans.

119th Congressin committeeS. 4411(In Committee)Official page

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Other Sections

Includes provisions on preamble, short title., and 2 more.

4 sections

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