Key Takeaways
- L-1 visa holders in Michigan can access up to $5M in Bankable revenue-based funding
- Primary L-1 industries in Michigan: automotive, manufacturing, technology, and healthcare
- SBA loans closed to L-1 holders since March 2026 — Bankable is the alternative
- Detroit, Ann Arbor, and Grand Rapids businesses all eligible statewide
- Decisions in 48 hours based on your Michigan business revenue
Detroit's automotive industry — Ford, General Motors, Stellantis, and Tier 1 suppliers — transfers automotive engineers, design directors, and operations specialists via L-1. L-1 holders establishing automotive technology and EV component companies in Michigan have a natural business ecosystem.
L-1 holders in Michigan face the same structural funding barrier as L-1 operators in every other state: banks and the SBA now require US citizenship as a condition of business lending. The SBA's March 2026 rule change eliminated access for every L-1 holder regardless of their business's size, revenue, or operating history. Bankable funds Michigan businesses on what they actually earn. Your SSN, EIN, US-registered business entity, and documented business revenue are what we evaluate — not your visa status.
How to Qualify from Michigan
The qualification process for Michigan businesses is identical to every other state. You need: (1) a Michigan-registered or Michigan-operating US business entity — LLC, S-corp, or C-corp; (2) a federal EIN issued to that entity; (3) a valid SSN; and (4) at least 6 months of documented US business revenue visible in your business bank statements. If your business meets these four criteria, check your Bankability Score to begin the process. Decisions arrive within 48 hours.
Top L-1 Business Sectors in Michigan
The most active L-1 business sectors in Michigan are: automotive, manufacturing, technology, and healthcare. Each of these sectors generates real US business revenue that Bankable can underwrite. Whether you are a pharmaceutical researcher launching a CRO, a technology specialist running an IT consulting firm, or a healthcare professional operating a private practice, the evaluation process is the same: we read your revenue, not your visa.
The SBA Funding Gap in Michigan
Before March 1, 2026, L-1 holders in Michigan could apply for SBA 7(a) and 504 loans through local lenders. That access is now closed. The SBA's new 100% US citizen/national ownership requirement eliminates every L-1 holder from every SBA program regardless of how long they have been in the US or how strong their business is. Bankable exists to fill this gap — providing the same quality of business capital without the immigration status requirement. Learn more about the SBA alternative for L-1 holders.
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Frequently Asked Questions
Yes. L-1 holders operating Michigan-registered businesses with EIN, SSN, and at least 6 months of documented revenue qualify for Bankable funding. No green card required. We fund businesses statewide across Detroit, Ann Arbor, and Grand Rapids.
The primary L-1 business sectors in Michigan are automotive, manufacturing, technology, and healthcare. These align with the major employers who use L-1 transfers in the state.
Yes. Bankable funds Michigan businesses statewide, including Detroit, Ann Arbor, and Grand Rapids and all other markets. Revenue performance, not business location, determines funding eligibility.
The SBA's March 2026 rule requires 100% US citizen ownership, effectively eliminating every L-1 holder from SBA programs regardless of business quality. Bankable is the primary revenue-based alternative for Michigan L-1 business owners.
Bankable's process is identical in all 50 states. Decision within 48 hours of complete application. Funding in 3-7 business days thereafter. No state-specific delays.
Your business must be operating in the US and generating US revenue. You must have an SSN and EIN. Physical presence in the US at the time of application is helpful but we can accommodate applicants who travel.
Your business must be legally operating in the US. It can be registered in Delaware (as most LLCs are) but operating in Michigan. The revenue must flow through a US business bank account.
Bankable requires at least 6 months of documented US business revenue. Minimum revenue thresholds vary by business type — service businesses typically need $8K-$15K/month; retail and product businesses need $15K-$30K/month. Check your specific industry page for details.