Can An Individual With An E-2 Visa Acquire A Business With An SBA 7(a) Loan?

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Manage episode 237104100 series 2518941
By Ryan Smith. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.
Yes, E-2 non-immigrant visa holders are eligible to obtain an SBA guaranteed loan to acquire a business. However, there are several specific eligibility tests that must be met by management for the applicant business to be considered eligible. Number 1. The Application must contain assurance that management is expected to continue in place indefinitely and have future U.S. citizenship or verified permanent resident status. Number 2. The non-immigrant visa holder must have been a member of management for one year prior to the loan. So yes non-immigrant visa holders are eligible for a business loan but not for acquisition unless they have been a member of management prior, which is more akin to a partner buyout and not a new acquisition.

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