Key Takeaways
- Asylees can legally own commercial property in the United States
- No citizenship or green card required for commercial real estate ownership
- Commercial mortgages available through private and hard money lenders
- SBA 504 commercial property loans now require citizenship — private lenders are the route
- Bankable funds business operations — not the property mortgage
US law places no restriction on asylees owning commercial real estate. An asylee can purchase a building, lease it to tenants, operate their own business from it, or do both. The practical challenge is financing — most commercial mortgages are available to non-citizens through private and portfolio lenders, even though SBA 504 loans (which subsidize commercial property purchase for small businesses) now require citizenship.
Commercial Property Financing Without a Green Card
The commercial real estate finance market is more flexible than residential or SBA lending on immigration status. Private money lenders and hard money lenders provide commercial mortgages based primarily on the property's income and value — not the borrower's immigration status. Portfolio lenders — banks that hold loans on their own books rather than selling to Fannie/Freddie — often have more flexible underwriting. DSCR (Debt Service Coverage Ratio) loans qualify borrowers on the property's rental income, not personal income or residency.
The SBA 504 Gap
SBA 504 loans — which allow small business owners to purchase commercial property with as little as 10% down — now require citizenship. This was a primary financing tool for asylee restaurant owners buying their building and asylee manufacturers purchasing their facility. The private market alternatives require larger down payments (typically 25-35%) and higher rates, but they are accessible.
What Bankable Funds
Bankable does not provide commercial mortgages. We provide working capital for the business that occupies or plans to occupy the commercial property. If you are buying a building for your restaurant, Bankable can fund your restaurant operations — the equipment, working capital, and expansion costs — while you use a private lender for the property mortgage. These two capital sources work together. See real estate business funding for asylees.
Frequently Asked Questions
Yes. US law does not restrict asylees from owning commercial real estate. You can purchase, lease, and operate from commercial property without a green card.
No. The 2026 SBA rule requires citizenship for all SBA programs including SBA 504 commercial property loans.
Private money lenders, hard money lenders, portfolio banks, and DSCR loans are the main alternatives. Down payments are typically 25-35% compared to SBA 504's 10%.
No. Bankable provides business working capital, not property mortgages. For commercial property financing, contact private money or hard money lenders.
Some conventional lenders will lend to non-citizens with documented income and a history in the US. This varies by lender. Work with a commercial mortgage broker who specializes in non-citizen borrowers.
Any commercial property — retail storefronts, office buildings, warehouses, restaurants, hotels, and mixed-use. No immigration-based restrictions.
Yes. Bankable working capital for your business operations complements a commercial property mortgage. The two are separate financing arrangements.
Work with a commercial mortgage broker and ask specifically for lenders who accept non-citizen borrowers. Hard money lenders are the most flexible on immigration status.