Javier Palomarez, USHBC President & CEO, Endorses CRA Resolution Overturning SBA Green Card Lending Ban
Javier Palomarez, USHBC President and CEO, issued the following statement:
“This is exactly how political ideology ruins an economy. Washington has taken lawful, tax-paying entrepreneurs who live in our communities, invest in America, and hire American workers, and declared their businesses ineligible for critical financing simply because a green card holder owns even a fraction of the company. Using policies ostensibly aimed at illegal immigration to punish lawful permanent residents is nothing short of ideological overreach and economic self-sabotage. The SBA exists to help viable small businesses grow, rather than imposing nativist tests that ignore an entrepreneur’s credit history, business plan, or ability to create jobs.”
According to analysis by the Senate Committee on Small Business and Entrepreneurship, nearly 5,700 SBA 7(a) and 504 loans totaling approximately $5.7 billion went to businesses with LPR ownership in Fiscal Year 2025, supporting more than 80,000 jobs. If enacted, the CRA resolution would repeal the February 2026 notices and prevent the SBA from issuing another policy that is substantially the same as the one repealed by the CRA.
Palomarez continued:
“Immigrant entrepreneurs have founded or helped build some of America’s most iconic companies, including Apple, Alphabet, Amazon, Costco, Kohl’s, Verizon, AT&T, JP Morgan Chase, Citigroup, Pfizer, Moderna, NewsCorp, Boeing, JetBlue, Tesla, State Farm, Loews, Phillips 66, Occidental Petroleum, Fluor, McDonald’s, and more. When the federal government closes the door on qualified entrepreneurs, they’re also closing the door on American entrepreneurship and on American workers, while handing future companies, jobs, innovation, and investment to our competitors. America should be competing to attract people who want to invest and build here, not creating arbitrary barriers that drive their talent and capital elsewhere.”
The USHBC proudly endorses the CRA resolution and urges Congress to pass it without delay. The USHBC also calls on Congress to pass the Investing in the American Dream Act, led by ranking member Markey and House Small Business Committee ranking member Nydia Velázquez, which would reverse the SBA’s broader eligibility restrictions for financing and restore longstanding eligibility across the 7(a), 504, Microloan, and Surety Bond programs for green card holders and other lawfully present, work-authorized entrepreneurs. The USHBC will continue to engage with both sides of the aisle to ensure Main Street America has robust access to capital.
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About the USHBC
Javier Palomarez is the President & CEO of the United States Hispanic Business Council (USHBC). The USHBC is a leading voice for the small business community. A 501(c)6 non-profit organization, the USHBC focuses on the success of American small businesses by ensuring they have a voice in the national dialogue. The USHBC is a nonpartisan organization.
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