Anyone with a TN Visa in the US who has experience with SBA loans?

by a searcher from Babson College - F.W. Olin Graduate School

1 month ago

Any Mexican/Canadian in the US with TN Visa who has experience with SBA loans to acquire in the US? Would love to learn about your experience and whether TN Visas have specific requirements, different approval process, etc. Thank you!

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searcher from Babson College - F.W. Olin Graduate School

Thank you, Garrett!

1 month ago | like reply | 0 likes

intermediary from Creighton University

^Searchfunder member‌ For a TN visa holder to qualify for an SBA loan, they typically cannot have majority ownership/control of the business. The business must be at least 51% owned by U.S. citizens or permanent residents. The TN visa holder must provide sufficient U.S.-based collateral to secure the loan. Their immigration status will be scrutinized closely by the lender. The business must have been successfully operated under the current management for at least 24 months prior to applying. There are no specific SBA loan programs or requirements for TN visa holders. They follow the same eligibility criteria as U.S. citizens, but face additional scrutiny from lenders due to their non-permanent resident status. Self-employment is not permitted on a TN visa, so the visa holder cannot use an SBA loan to start their own business where they would be self-employed. They can only work in a pre-approved TN professional occupation for an employer.

1 month ago | like reply | 1 like

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