Dear NAGGL Members –
As you are aware, SBA has issued two notices, Policy Notice 5000-876441 and Procedural Notice 5000-876626 (both effective March 1, 2026) that, in accordance with13 C.F.R. 120.100 and Executive Order 14159, “Protecting the American People Against Invasion”, effective March 1, limit 7(a) and 504 loan eligibility to entities that are 100% owned (directly and indirectly) by U.S. Citizens and U.S. Nationals. We have received a myriad of comments from our members regarding the impact that the policy changes may have on small businesses and on the 7(a) Program. Your feedback helps us to understand this issue, so please continue to communicate your thoughts with us. We have shared, and as we receive additional comments, will continue to share your perspectives with SBA leadership.
Tony Wilkinson
President & CEO
NAGGL
