Key Takeaways
- New York is a top-3 state for L-1 visas — finance, law, media, and tech drive transfers
- Manhattan's professional services sector transfers senior L-1A executives from global firms
- Queens and Brooklyn have significant L-1 small business concentrations in food service, retail, and home services
- SBA closed to L-1 holders — Bankable funds New York businesses on revenue
- Decisions in 48 hours, up to $5M
New York's L-1 visa population is uniquely diverse across industries. Wall Street's global financial institutions — Goldman Sachs, JPMorgan, Citigroup, Morgan Stanley — transfer senior bankers, analysts, and operations executives from their London, Hong Kong, and Singapore offices via L-1A. Law firms on Park Avenue and Fifth Avenue transfer senior partners and associates from their UK and Australian offices. Media companies in Midtown transfer entertainment executives and content directors. Technology companies in Silicon Alley transfer engineering talent. And across Queens, Brooklyn, and the Bronx, small business owners from South Asia, East Asia, and Latin America operate service businesses, restaurants, and retail shops.
The financial sophistication of New York's L-1 population is notable — many are accustomed to complex financial instruments and understand the difference between debt capital and equity. Revenue-based financing is a familiar concept to the Wall Street L-1 executive who applies it to their independent consulting business, and to the Queens restaurateur who needs working capital for a second location.
Top L-1 Business Sectors in New York
- Finance and investment management: Independent financial advisory, investment management, and fintech companies from former Wall Street L-1 executives
- Law and professional services: Immigration law, corporate law, and consulting firms launched by L-1A professionals
- Technology: Silicon Alley fintech, adtech, and SaaS companies from former tech company L-1 employees
- Food service: New York's restaurant density is the highest in the country — L-1 restaurateurs span every cuisine and price point
- Healthcare: Medical practices, dental offices, and healthcare technology companies in the tri-state area
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Frequently Asked Questions
Yes. L-1 holders operating New York-registered businesses with EIN, SSN, and documented revenue qualify for Bankable funding. We fund businesses across Manhattan, Brooklyn, Queens, the Bronx, Staten Island, and Long Island.
Finance, law, media, technology, and hospitality/food service have the highest concentrations. Manhattan leads in professional services; Queens and Brooklyn lead in small business and food service.
New York's commercial rents and operating costs are among the highest in the country. This means businesses typically need larger working capital lines. Bankable funds at New York market scale.
Yes. Registered investment advisory firms with documented AUM-based or performance fee revenue qualify for working capital. SEC or FINRA registration and compliance status are positive factors.
Yes. Queens and Brooklyn small businesses — restaurants, retail, healthcare practices, cleaning companies — qualify for Bankable funding on the same terms as Manhattan-based businesses. Revenue, not zip code, determines eligibility.
New York has specific licensing requirements for professional businesses (law, medicine, accounting, real estate). An active New York state license is required for licensed professions. Bankable verifies active licensure as part of underwriting.
New York has a dense concentration of immigration law firms specializing in employment-based visas. Fragomen, Berry Appleman & Leiden, and dozens of boutique firms serve L-1 holders in financial services, law, and technology.
Higher operating costs mean businesses typically need proportionally larger working capital lines. A restaurant needing $200K in working capital in Texas might need $400K for an equivalent New York City operation. Bankable scales funding to match the market.