Client Alert

Effective March 1 of this year, the Small Business Administration (“SBA”) implemented a significant change to its loan eligibility requirements, barring green card holders and other non-U.S. citizens from applying for or receiving SBA loans. The new rule applies immediately to the SBA 7(a) and 504 loan programs. Beginning April 1, 2026, the policy will be extended to the Surety Bond and Microloan programs. Under recent, prior SBA guidance, a small business could still remain eligible for SBA financing if up to 5% of its ownership was held by a foreign national or lawful permanent resident. That policy has now […]

The Department of Justice (DOJ) Criminal Division recently unveiled its Whistleblower Pilot Program, signaling a pivotal shift in the landscape of corporate enforcement and accountability. The program is slated to take effect “later this year.” Here’s why you should take notice: 1. A New Era of Incentives The DOJ recognizes that people and corporations respond to incentives. The carrot-and-stick approach, previously seen in the DOJ’s Voluntary Self-Disclosure Program for corporations, now extends to individual whistleblowers. In this spirit, the Whistleblower Pilot Program aims to reward individuals who come forward with significant corporate or financial misconduct that the government is not yet aware of. 2. Financial […]