The bill would set eligibility rules for certain Small Business Administration-backed loans, microloans, investment-company loans, and surety bond guarantees. It would require a small business to be located in the United States and at least 51% owned and controlled by U.S. citizens or nationals, or by eligible individuals who are lawfully present and authorized to work in the United States when applying. It would prohibit denying eligibility solely because the business is owned by eligible individuals and would bar the SBA from increasing the 51% threshold.

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