A new partnership offers interest-free loans to immigrant business owners in Southern California affected by SBA rule changes. - The SBA now requires businesses to be fully owned by U.S.
citizens, excluding permanent residents. - KAFLA and JFLA provide loans up to $50,000 with no interest, using ITINs or Social Security numbers.
- Applicants need a credit score of 680+ for larger loans and must provide guarantors. - The program covers Los Angeles, Orange, Ventura, and Santa Barbara counties.
This initiative aims to fill a critical gap for immigrant entrepreneurs facing inflation and rising costs.