Bill opens federal small-business loans to immigrant entrepreneurs
H.R. 8563 — Investing in the American Dream Act · Filed by Nydia Velázquez (D-NY) · 25 cosponsors · Introduced Apr 28, 2026 · Referred to committee
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What it does
This bill clarifies that small businesses owned by certain immigrants—including asylees, refugees, permanent residents, and DACA recipients—are eligible for federal small business loans (7(a) loans, microloans, and surety bond guarantees) if the business is located in the U.S., the owners are lawfully present and authorized to work, and at least 51% is owned by U.S. citizens or these eligible immigrants. It explicitly prohibits the SBA from denying loans based on immigrant ownership and bars the SBA from raising the 51% ownership threshold.
Why we flagged it
The bill's core function is to clarify and protect eligibility for existing SBA loan programs, removing ambiguity and prohibiting discriminatory denial based on immigrant ownership. It is a straightforward eligibility/access measure, not a new program or subsidy.
What the text implies
- The bill does not create new loan authority or funding; it clarifies eligibility under existing programs. Implementation depends on SBA guidance and lender compliance.
- Subsection (c) explicitly prohibits the SBA from raising the 51% ownership threshold, preventing regulatory workaround that could re-narrow eligibility.
- The definition of 'eligible individual' includes DACA recipients (deferred action), whose immigration status remains contested; this bill treats them as eligible for federal lending, which may signal broader policy intent.
Section numbers refer to the bill text the analysis read — linked under Primary records below.
Who it affects
The bill expands access to federal small-business credit for a broader class of entrepreneurs, lowering barriers to business formation and capital access for immigrant workers and their families. It does not reduce protections, impose costs on other citizens, or create new liabilities; it clarifies existing law to prevent discriminatory exclusion.
Who stands to gain
- immigrant-owned small businesses
- small business lenders (SBA-participating banks and credit unions)
Named in the bill
Small Business Administration (SBA), Department of Homeland Security, Small Business Act (section 7(a), 7(m)), Small Business Investment Act of 1958, Immigration and Nationality Act
Where it stands
25 cosponsors: 25 Democrats.
- Apr 28, 2026 — Introduced · Congress.gov: “Introduced in House”
- Apr 28, 2026 — Referred to House Committee on Small Business · Congress.gov: “Referred to the House Committee on Small Business”
Dates and quoted wording are Congress.gov's action record; the timeline shows status changes, not every procedural step.
Money around this bill
1 lobbying clients named this bill on 1 disclosure filings across 1 quarter, Jun 2026 to Jun 2026. Those filings disclosed $0 in lobbying spend. A filing names 9 bills on average, so that figure is what each filing reported, not a share belonging to this bill.
More lobbying clients named this bill than 0% of bills with at least one filing.
Nydia Velázquez, the sponsor, reported $62,000 in PAC receipts in the 2026 cycle.
- Small Business Majority Foundation, Inc. — $0 on 1 filing
Lobbying Disclosure Act filings through Jul 10, 2026. A filing shows who paid to lobby on a bill it names, not what changed.
How this was measured
Analysis — Quorum's AI read the bill text published by Congress.gov (2,665 characters) on Sep 25, 2026. Section numbers in the findings refer to that text, linked below; transparency and hidden-provision scores are compared against the median of 14,975 analysed bills.
Status and sponsors — Congress.gov's bill record — actions, committee referrals and cosponsors — loaded nightly. The timeline shows status changes, not every procedural action.
Money — Senate Lobbying Disclosure Act filings whose specific-issue field names this bill for quarters ending Jun 2026 to Jun 2026. A filing's amount is reported whole beside the median number of bills a filing names; it is never divided across them. PAC receipts are FEC-reported contributions to the sponsor's candidate committee in the 2026 cycle.
As of — lobbying records through Jul 10, 2026 · page rendered 2026-09-25.
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