Glossary · People and paperwork
Legal permanent residency
In short
The status of an individual who has been granted the right to live permanently in the U.S. and holds a Green Card (Form I-551). This status is key for non-citizens seeking an SBA loan.
What it means in a deal
If you're not a U.S. citizen, you must prove Legal Permanent Residency to be eligible for an SBA loan. This is typically done by providing your Green Card (Form I-551). The SBA requires a Qualified Alien status for borrowers.
Official sources
SOP 50 10 — Lender and Development Company Loan Programs
U.S. Small Business Administration · SBA Standard Operating Procedure
SBA Form 1919 — Borrower Information Form
U.S. Small Business Administration · SBA form
Last checked 2026-06-15. Official sources control — verify before relying on any rule for a live deal.
Related terms
Common questions about Legal permanent residency
- How does a lender verify U.S. citizenship or legal permanent residency for a 7(a) loan applicant?
- What specific documentation must a lender collect to verify the legal residency status of a lawful permanent resident owner?
- Can a Qualified Alien without permanent residency obtain an SBA 7(a) loan?
- What types of non-citizen legal residency status are acceptable for SBA 7(a) loan applicants?
- How does the SBA verify the legal status (citizenship/residency) of all owners for a 7(a) loan?
- Are there citizenship or residency requirements for SBA 7(a) loan applicants?
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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