How can Immigrant get a Business Loan in USA

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How can Immigrant get a Business Loan in USA?
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Are immigrants eligible for a business loan in
USA?

• Yes, they are eligible. 
• Green Card Holders (Legal Permanent Residents)
  can consider business loans through Small
  Business Administrations (SBA) community
  advantage loan program.
• If the borrower is not a green card holder,
  he/she may face extra challenges to get business
  loan.

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SBA Community Loan Advantage

• Federally guaranteed small business term loan.
• Ranges from 50,000 to 250,000.
• Rate of interest - 7 to 9.
• Loan Tenure - 7 to 10 years.

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SBA Loan for Non-US Citizens

• The SBA states that businesses that are 51 owned
  and controlled by non-US citizens provided they
  are lawfully in the US qualify for SBA financing
  options.
• However, it is the discretion of a lender whether
  he/she wants to offer loan to a non-US citizen or
  not.
• Each director, proprietor, partner, 20 owner
  of a business looking for an SBA loan must submit
  an SBA Form 912 to the lender as a part of the
  loan application process.
• If your lender is willing to offer you a loan,
  you have to follow SBA rules to be eligible for
  SBA loan.
• If your business partner is 51 owner of the
  business, you are not supposed to meet special
  criteria.  

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SBA loan for Non-Green card holders and Foreign
Nationals

• If an applicant is not a legal permanent resident
  (LPR) or doesnt have Green Card, the lender
  needs to determine their eligibility for SBA
  business loan based on statuses
• An individual who has been granted asylum or
  refuge with LPR status
• An alien is subject to the Immigration Reform
  and Control Act (IRCA) 1986.
• A documented alien living in the United States
  with a specific purpose for a specific time.

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SBA loan for Non-Green card holders and Foreign
Nationals

• The business should also meet some other
  requirements that include
• Present management must have experience in
  operating the business for a minimum of 12 months
  before the application date
• They need to guarantee the loan personally.
• The applicant must have enough U.S.-based
  collateral to pay off the loan at any time during
  its tenure.

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Thank You!!!