Key Takeaways
- SBA loans now require US citizenship — asylees are categorically excluded as of 2026
- Private revenue-based funding from Bankable requires no green card
- CDFIs, equipment lenders, and invoice factoring are also available to asylees
- Work authorization (EAD) + US business entity + revenue = Bankable-eligible
- 48-hour decisions on Bankable applications
The direct answer: Yes, asylees can get business loans in 2026 — but not from the SBA. The 2026 SBA rule change requiring US citizenship or national status for all SBA programs has eliminated asylees from the most common small business lending channel. Private lenders, CDFIs, and revenue-based funders like Bankable remain fully accessible.
What Changed in 2026
Before 2026, asylees could access SBA 7(a) loans, SBA 504 loans, SBA Express loans, and SBA Microloans through approved lenders. The 2026 rule change requires that all owners of 20%+ of an applicant business be US citizens or US nationals. Lawful permanent residents, asylees, DACA recipients, and TPS holders are all excluded. This is a significant policy shift that affects tens of thousands of asylee business owners.
What Remains Available in 2026
Bankable revenue-based funding is the primary alternative for established asylee businesses. Up to $5M, decisions in 48 hours, no citizenship requirement. Qualification based entirely on your business revenue.
CDFI loans remain available. CDFIs are mission-driven lenders not bound by SBA eligibility rules. They offer $500-$250,000 in loans with flexible requirements.
Equipment financing uses the equipment as collateral and has fewer immigration restrictions than unsecured lending.
Invoice factoring is available to asylees with no immigration status requirements.
Private lenders and hard money lenders provide business and real estate financing to non-citizens.
What You Need to Qualify with Bankable
- Valid work authorization (EAD card, I-94 with asylee status)
- US business entity (LLC or corporation)
- EIN (Employer Identification Number)
- Active US business bank account
- At least $10,000/month in business revenue
- At least 6 months of operating history
Frequently Asked Questions
No. The 2026 SBA rule requires US citizenship or national status for all SBA programs. Asylees are explicitly excluded from SBA 7(a), SBA 504, SBA Express, and SBA Microloan programs.
Bankable's revenue-based funding is the most accessible and largest-dollar alternative. CDFIs, equipment financing, and invoice factoring are also available.
No. Bankable requires EAD (work authorization), a US business entity, and business revenue. No green card or permanent residence required.
It is current law as of 2026. Policy can change with future administrations and Congress, but asylee business owners should plan for current rules.
If you have work authorization (after 180 days of pending asylum) and your business has revenue, Bankable can fund it. We do not evaluate immigration case status — only business revenue.
3-6 months of business bank statements, EIN, EAD or valid work authorization, and basic business information. No tax returns required for amounts under $250K.
Up to $5 million. The amount you qualify for is typically 1-2x your monthly business revenue.
Personal loans don't require immigration status in the same way, but personal loans for business are risky — they put personal assets at risk and don't build business credit. A business loan through Bankable is the correct structure.