Key Takeaways
- Hiring employees is a major growth milestone that requires upfront working capital
- Payroll must be funded before employee productivity generates matching revenue
- No green card required — EAD and US entity qualify
- Bankable provides working capital to bridge the hiring gap
- 48-hour decisions
Hiring your first employee is one of the most consequential decisions an asylee business owner makes. It transforms a solo operation into a real business — with all the payroll, compliance, and management responsibility that entails. It also requires upfront capital: you pay salaries before the new hire's productivity generates offsetting revenue, and onboarding costs (background checks, training, uniforms, equipment) arrive before the first paycheck.
The Hiring Capital Gap
Consider a cleaning business owner with $15,000/month in solo revenue. To double the business, she needs to hire a second cleaner. But that cleaner costs $3,000-$4,000/month in wages — before they've cleaned a single house. She needs to find new clients to justify the hire, but she can't take on new clients without the extra cleaner. This circular problem is solved by working capital: Bankable funds the first 60-90 days of payroll while new client revenue ramps up.
What We Fund for First-Time Hiring
- First 60-90 days of employee salary or wages
- Payroll processing setup costs (Gusto, ADP, QuickBooks Payroll)
- Background check and drug screening fees
- Training costs and onboarding materials
- Uniforms, tools, and equipment for new hires
- Workers' compensation insurance premium (required in most states)
- Employer payroll tax float
Employer Requirements for Asylee Business Owners
Asylee business owners are legal employers. You can hire employees — both citizens and work-authorized non-citizens. You must complete I-9 verification for all employees, obtain an EIN (you already have one if you're an established business), set up payroll withholding, and obtain workers' compensation insurance. These are the same requirements as any US employer. Your immigration status as the employer is irrelevant to your ability to hire.
Frequently Asked Questions
Yes. Asylee business owners are legal employers. You can hire any work-authorized person — citizen or non-citizen. Your asylee status does not restrict your ability to employ people.
Yes. Payroll bridges — funding the first 60-90 days of a new hire's wages while revenue ramps — are one of the most common uses of Bankable working capital.
At least $10,000/month in existing business revenue, 6 months operating, US entity, EAD.
Yes. All US employers must complete I-9 verification for every employee within 3 days of their start date. This applies to asylee employers the same as everyone else.
Yes. You can employ family members who have their own work authorization. Paying family members from business funds without proper payroll processing can create tax issues — use a payroll processor.
Gusto, QuickBooks Payroll, and ADP Run are the most common for small businesses. Gusto is particularly popular with immigrant-owned businesses for its simplicity.
Yes. Working capital covers both employee payroll and 1099 contractor payments.
Total cost including wages, employer payroll taxes (7.65%), workers' comp insurance, and onboarding typically runs $4,000-$6,000/month per employee at minimum wage, and $6,000-$12,000/month for skilled workers.