Green card holders will no longer be eligible for government-backed small business loans in the United States beginning March 1, 2026, following a policy change by the US Small Business Administration that tightens citizenship and residency requirements for borrowers. The revised rules limit access to key SBA lending programs exclusively to US citizens and nationals who maintain their principal residence within the country or its territories, effectively barring lawful permanent residents from participation. According to an official policy notice issued in early February, the agency updated its Standard Operating Procedure 50 10 8, the framework that governs lender and development company loan programs. The revision rescinds earlier procedural guidance that permitted limited ownership by foreign nationals or certain residents living outside the United States. Under the new language, every direct and indirect owner of a small business applicant must meet the citizenship criteria. The SBA said the updated rules require 100 percent of ownership interests in any applicant or borrowing entity to be held by eligible US citizens or nationals. As a result, even minority ownership by a legal permanent resident will disqualify a company from receiving SBA-backed financing. The policy applies broadly to applicants, operating companies, and entities tied to the loan structure, leaving little flexibility for mixed-ownership businesses. The change is expected to affect a wide range of small and early-stage firms that rely on SBA loans for working capital, equipment purchases, and expansion. Many startups and family-owned enterprises depend on these lending programs because they offer lower interest rates and government guarantees that make financing more accessible. With the new restrictions in place, businesses that include green card holders among their owners may need to reconsider ownership arrangements or seek alternative sources of credit from private lenders. Agency officials indicated that the revisions align loan eligibility standards with existing federal regulations and a recent executive directive emphasizing stricter residency compliance. The policy will take effect for all new applications submitted on or after the effective date. Existing and prospective borrowers are being advised to review their ownership structures carefully to ensure continued eligibility under the updated requirements. The move marks a significant shift in how federal small business lending programs define qualification, narrowing access to public funds and reshaping the financing landscape for immigrant entrepreneurs. As the implementation date approaches, legal and financial advisers expect increased demand for guidance from affected business owners who must evaluate their options within the new framework.

U.S. President Donald Trump conceded in a recent interview that imposing a 100% tariff on Chinese imports would not be a lasting policy, saying, “It’s not sustainable, but that’s what the number is.” He asserted that Beijing “forced me to do that,” pointing to China’s tighter export controls—especially on rare earth elements—as justification for the heightened measur

Palmetto Superfoods, the popular Bay Area chain known for its delicious Brazilian-inspired açai bowls and smoothies, has expanded to Livermore. This marks another milestone for the company, which first opened in San Francisco's Inner Richmond neighborhood in 2019. The Livermore location, located at 3052 West Jack London Boulevard, opened its doors with a soft opening this week, bringing its refreshing, nutrient-packed bowls and smoothies to the Tri-

On July 24, 2025, India and the United Kingdom signed a historic Free Trade Agreement (FTA) during Prime Minister Narendra Modi’s official visit to London, marking a key milestone in their economic relationship. The agreement, expected to increase bilateral trade by USD 34 billion annually, is the largest trade deal the UK has signed since its departure from the European Union in 2020. The deal was finalized between India's Commerce Minister Piyush G

Subway, one of America's most recognized fast food franchises, has seen its number of US locations drop below 20,000 for the first time in over 20 years. In 2024 alone, the chain shuttered 631 restaurants, reducing its US footprint to 19,502 outlets. This marks the eighth consecutive year that Subway has scaled back its presence in its home country. Despite this consistent decline, Subway still holds the distinction of being the largest restaurant chain in the United States by number of loca

The City of Houston spent $180 million from its general fund on purchasing goods and services during the fiscal year ending June 30, 2024, according to newly released public financial records. Overseeing that massive flow of public funds was the Strategic Procurement Division of the Finance Department, which itself cost about $9.5 million to operate last year. City officials emphasize that purchasing within a government body like Houston is far different from everyday consumer spending. Unlik

Retail giant Kohl’s is preparing to close 27 underperforming store locations across 15 states this Saturday, March 29, as part of its strategic restructuring efforts. Among those closing are five locations in California’s Bay Area, including Fremont, Mountain View, Napa, Pleasanton, and San Rafael. These closures, initially announced in January, reflect the company's focus on optimizing operations and enhancing profitability by addressing performance issues in certain regions whi

National pharmacy chain Walgreens has agreed to pay up to $350 million as part of a major settlement with the U.S. Department of Justice (DOJ) following allegations that it illegally filled millions of opioid prescriptions over more than a decade. The settlement, announced Monday, resolves a federal lawsuit accusing Walgreens of violating the Controlled Substances Act and False Claims Act by dispensing controlled substances without proper oversight and seeking reimbursement through federal he

Efforts to halt the long-discussed Houston-to-Dallas high-speed rail project have returned to the Texas state legislature, reigniting a decade-long battle over one of the most ambitious transportation proposals in the state’s history. The Texas Central Railway project, which aims to connect Houston and Dallas in under 90 minutes using Japan’s Shinkansen bullet train technology, is once again under scrutiny in Austin, where lawmakers are advancing bills aimed at limiting or complet

Renowned American restaurant chain Hooters of America has filed for bankruptcy protection in Texas as part of a major restructuring effort aimed at addressing its mounting debt of $US376 million (approximately $601 million AUD). The company announced that it will transfer ownership of its company-operated restaurant locations to a group backed by the original founders of the brand, with the aim of strengthening its financial future. Despite the bankruptcy filing, Hooters has confirmed that it

Bitcoin prices showed minor declines across major exchanges on Monday, March 17, reflecting losses of under 2 percent. On CoinMarketCap, Bitcoin was trading at $83,687 (approx. Rs. 72.6 lakh) on global platforms. Meanwhile, on Indian exchanges like CoinSwitch and Giottus, the asset’s value fluctuated between $83,810 (approx. Rs. 72.7 lakh) and $87,506 (approx. Rs. 76 lakh). The leading cryptocurrency’s sluggish performance has persisted for over two weeks following a price dip ear

In the latest quarterly earnings report, Hindustan Unilever has announced a 2% decrease in profit for the second quarter, raising concerns among investors and analysts about the company's performance amid challenging market conditions. This decline prompts a closer look at the underlying factors affecting the company's profitability and its future strategies to regain momentum. On a brighter note, Thyrocare has reported a remarkable

Recent data shows US job growth over the past year was notably weaker than initially estimated. According to new information released Wednesday, there were 818,000 fewer jobs in March 2024 than originally reported. The Bureau of Labor Statistics (BLS) performs an annual review of employment data, aligning monthly payroll survey figures with those from the Quarterly Census of Employment and Wages (QCEW). This preliminary revision is the largest downward adjustment since 2009, suggest