Glossary · People and paperwork
Lawful Permanent Resident(Green Card holder)
In short
An individual granted the privilege of permanently residing in the United States. This status is a key eligibility requirement for non-U.S. citizens seeking an SBA 7(a) loan.
What it means in a deal
If you are not a U.S. citizen, you must hold Lawful Permanent Resident status (commonly known as a Green Card holder) to be eligible for an SBA 7(a) loan. You will be required to provide proof of this status, typically through a Form I-551, as part of your loan application. Ensure all key principals involved in the business meet this crucial eligibility criterion.
Official sources
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.
Related terms
Common questions about Lawful Permanent Resident
- How does a lender verify the lawful permanent resident status of a non-citizen applicant?
- What specific documentation is required to verify a non-citizen owner's lawful permanent resident status?
- How does a lender verify the "U.S. Citizenship or Lawful Permanent Resident" status on SBA Form 1919?
- Can a non-U.S. citizen, who is a lawful permanent resident, apply for an SBA 7(a) loan?
- How does an SBA lender verify the U.S. citizenship or lawful permanent resident status of a 20%+ owner?
- What specific documentation must a lender collect to verify the legal residency status of a lawful permanent resident owner?
Defined by CapBench 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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