Glossary · People and paperwork
Permanent Resident Status
In short
This refers to your official status as a lawful permanent resident of the U.S. (e.g., Green Card holder). It's a critical SBA eligibility requirement for foreign national borrowers.
What it means in a deal
If you are a foreign national, you must provide proof of permanent resident status (Form I-551, Green Card) to be eligible for an SBA loan. Lenders will rigorously verify this during the underwriting process. Without it, you cannot be an eligible borrower for an SBA 7(a) loan.
Official sources
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 Permanent Resident Status
- 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?
- 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?
- Is an individual without permanent resident status, but with a valid U.S. work visa, eligible for a 7(a) loan?
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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