Key Takeaways
- Independent used car dealers can operate as asylees in all 50 states
- No green card required — dealer license + EAD qualify
- Fund vehicle inventory floor plan, lot costs, and operations
- Haitian, Latin American, and Afghan auto dealers served
- 48-hour decisions
Independent used car dealerships are a well-established entrepreneurial path for asylee entrepreneurs in US cities. Haitian auto dealers operate used car lots in Miami and Boston. Latin American dealers serve immigrant communities across Houston, Dallas, and Los Angeles. Afghan and Middle Eastern dealers operate specialty and general used car lots in Northern Virginia, Texas, and Georgia.
What We Fund
- Vehicle inventory working capital (alternative to traditional floor plan)
- Auction fees and transport costs for vehicle acquisition
- Lot rental deposits and improvements
- Dealer management software (DealerSocket, CDK)
- Mechanic staff and reconditioning costs
- Marketing and advertising costs
Minimum: $20,000/month in vehicle sales revenue, 6 months operating, US entity, state dealer license, EAD.
Frequently Asked Questions
Yes. Independent used car dealer licenses are available to asylees with EAD and SSN in all 50 states.
Bankable's working capital can supplement or replace traditional floor plan financing for smaller dealers. Traditional floor plan providers have their own eligibility criteria.
$20,000/month in vehicle sales revenue, 6 months operating, dealer license, EAD.
Yes. Vehicle auction purchasing and transport costs are common uses of dealer working capital.
Franchise new car dealerships have different requirements. Contact Bankable directly for franchise dealer needs.
Yes. Reconditioning staff payroll is a valid use.
Business bank statements showing vehicle sale proceeds and financing commissions.
Yes. Lot improvements, signage, and security systems are fundable for established dealers.