Yes, lawful permanent residents (LPR) of the United States are eligible to apply and receive SBA financing through NEWITY’s SBA 7(a) small business loans program.
When you reach the Business Owner section of the 7(a) Prescreen Application, simply select the dial next to I have Lawful Permanent Resident (LPR) status.
Later in the review process, your Relationship Manager will prompt you to return back to the NEWITY Smart Portal to finish your 7(a) Application. Your Relationship Manager may refer to this part as completing your SBA Form 1919. In the Owner Details screen of the 7(a) Loan Application, simply select the dial next to I have Lawful Permanent Resident (LPR) status. Once the dial is selected, the USCIS Registration Number field and Country of Citizenship field will appear.
In the USCIS Registration Number field, enter your USCIS Registration Number exactly as it appears on your Permanent Resident Card (Green Card). In the Country of Citizenship field, enter your country of birth exactly as it appears on your Permanent Resident Card (Green Card).
The initial required individual documents for an LPR are as follows:
- Copy of Permanent Resident Card (Front & Back)
- USCIS Verification & Authorization Letter
Please note that once your application is submitted, your assigned Relationship Manager will provide you with the USCIS Verification & Authorization Letter for you to complete. Please physically sign this form with ink and return to your assigned Relationship Manager.
If you are not a U.S. citizen or lawful permanent resident, unfortunately, you are not eligible for SBA financing.
NEWITY LLC and its affiliates are not lenders participating in SBA’s 7(a) loan program. SBA 7(a) loans are ultimately processed and approved by a lender participant in SBA’s 7(a) loan program.