Eligibility for SBA Loans as a Canadian Citizen

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October 24, 2024

by a searcher from École Polytechnique de Montréal, Université de Montréal in Montreal, QC, Canada

As a Canadian citizen who has incorporated a company in Delaware and is actively pursuing acquisitions in the U.S., am I eligible for SBA loans? Are there specific requirements or exceptions for foreign-owned businesses seeking SBA financing in the U.S.?

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Reply by a searcher
from University of Chicago in Vancouver, BC, Canada
^redacted‌, thanks for the tag. You must be a US person (citizen or resident) to take advantage of the SBA program. So, if you are like me, one of the estimated 1 million U.S. citizens living in Canada, then you can use the SBA loan program. If not, I believe you can still take advantage of the program if you team up with someone else who is eligible so long as that person has a majority interest in the acquisition target. Someone who knows more than I should feel free to correct me if I'm wrong.
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Reply by a professional
from University of Toronto in Toronto, ON, Canada
^redacted‌, I would recommend you get in touch with ^redacted‌. He is a former banker, commercial funding consultant and SBA expert. [^redacted‌, thanks for including me here.]
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