Key Takeaways
- Since March 2026, SBA rejection of L-1 holders is not a flaw in your application — it is the law
- Bankable's revenue-based underwriting ignores citizenship requirements entirely
- Your business revenue, cash flow, and history are the only factors that matter at Bankable
- Funding from $25K to $5M with 48-hour approval and no green card required
- SBA rejection does not damage your credit or your chances with Bankable
If you are an L-1 visa holder who was recently rejected by the SBA or a bank on citizenship grounds, you are not alone and your business's creditworthiness has not been impugned. As of March 2026, the SBA implemented a rule requiring 100% US citizen or national ownership for all SBA-backed loans — 7(a), 504, and Microloans. Banks that rely on SBA guarantees have similarly closed the door. This is a policy decision, not a judgment on your business.
Bankable operates outside the SBA system entirely. We are a private revenue-based lender. We do not use SBA guarantees. We do not have citizenship requirements. We underwrite based on your business's cash flow, revenue history, and repayment capacity. The same business that the SBA rejected yesterday can be funded by Bankable today.
Why SBA Rejection Does Not Predict Bankable Rejection
SBA rejection on citizenship grounds is not a creditworthiness signal. It means the government program's rules do not accommodate your immigration status — not that your business is a bad lending risk. Bankable's underwriting team has reviewed many businesses that were SBA-rejected on citizenship grounds and funded the vast majority of them. The businesses were creditworthy; they simply needed a lender without citizenship requirements.
If your SBA rejection was for reasons other than citizenship (insufficient time in business, insufficient revenue, poor credit, collateral shortfall), those factors will also be part of our evaluation. But many of these factors are addressable, and Bankable's underwriting has more flexibility than the SBA's rigid program requirements.
What Bankable Requires Instead of SBA Guarantees
Instead of an SBA guarantee, Bankable's underwriting relies on: 3–12 months of business bank statements demonstrating consistent revenue, evidence of business operations (invoices, customer contracts, or POS data), a personal guarantee from the business owner, and in some cases, business assets as collateral. We do not require US tax returns if you can demonstrate revenue through bank statements and operational documentation.
The Direct Pathway from SBA Rejection to Bankable Funding
The process is straightforward: complete our Bankability Score assessment (takes under 10 minutes), receive a personalized funding estimate, submit a formal application with bank statements and business documentation, and receive an approval decision within 48 hours. Many businesses that approach us following an SBA rejection are funded within 5–10 business days. Review our SBA alternative overview for a detailed comparison of how we compare on rate, term, and total cost.
Frequently Asked Questions
The SBA implemented a rule in March 2026 requiring 100% US citizen or national ownership for all SBA loan programs including 7(a), 504, and Microloans. L-1 visa holders are not US citizens or nationals, so they are categorically excluded from all SBA programs regardless of business quality.
There is no appeal process for SBA rejections based on citizenship requirements. The rule is a program eligibility requirement, not a discretionary decision. Your only path forward is a non-SBA lender like Bankable that does not have citizenship requirements.
An SBA application typically involves a credit inquiry, which may have a small temporary impact on your credit score. The rejection itself does not appear on your credit report or affect your score. Applying to Bankable after an SBA rejection is a fresh start.
The SBA is a government agency that guarantees loans made by approved banks, with strict program eligibility rules including citizenship requirements. Bankable is a private revenue-based lender that underwrites on cash flow without citizenship requirements, and funds 5–10x faster than SBA-backed loans.
Bankable funds virtually all business purposes that SBA programs covered: working capital, equipment purchases, business acquisition, real estate (owner-occupied), inventory, marketing, hiring, expansion, and renovation. The primary difference is the underwriting process and eligibility criteria, not the use of funds.
Bankable rates are typically higher than SBA base rates but lower than many alternative lenders. However, when you factor in SBA guarantee fees (up to 3.5% of the loan amount), the cost differential narrows significantly. For time-sensitive needs, the speed advantage of Bankable over SBA timelines often has measurable economic value.
Bankable can fund most businesses within 5–10 business days of a completed application. This compares to 60–120 days for SBA-backed loans that L-1 holders no longer qualify for anyway.
Most businesses need $10,000 or more in monthly revenue to qualify for Bankable funding. Higher revenue businesses qualify for larger facilities and better terms. There is no fixed minimum for all products — our Bankability Score tool gives you a personalized assessment.
Yes. Bankable funds businesses across all major industries including food service, retail, professional services, manufacturing, healthcare, technology, construction, transportation, and more. Industry is not a primary eligibility factor.
If your SBA rejection included credit or financial concerns beyond citizenship, we evaluate those on their merits. Not all credit issues are disqualifying at Bankable. Thin credit history, limited US banking history, or below-average credit scores may reduce your loan amount or affect terms, but they do not automatically disqualify you.