Key Takeaways
- Car dealerships owned by L-1 holders qualify on vehicle sales and F&I revenue
- Floor plan financing, working capital, and service department capital all eligible
- Both franchise and independent used car dealers qualify
- SBA closed to L-1 holders — Bankable funds dealership operations directly
- Decisions in 48 hours, up to $5M
Automotive retail is a capital-intensive business where the inventory itself — the vehicle lot — is both the primary asset and the primary capital requirement. An independent used car dealer with 50 vehicles at an average cost of $18,000 per vehicle needs $900,000 in lot inventory at any given time. A franchise dealer with new vehicle allocation faces similar capital requirements scaled to manufacturer MSRP. Floor plan financing — borrowing against the vehicle inventory — is the foundational capital product for any dealership, and traditionally it has been available only through manufacturer captive finance arms or specialized dealer floorplan lenders, virtually all of which require citizenship or permanent residency.
L-1 holders establishing car dealerships often come from automotive industry backgrounds — regional sales managers, district manager roles for OEM brands, or commercial fleet management executives. Their industry knowledge and OEM relationships create a business profile that is genuinely valuable. Bankable provides the operational working capital that dealerships need for their F&I department, service center, and administrative operations.
Dealership Capital for L-1 Holders
- Inventory working capital: Operational capital for auction purchases, transport, reconditioning, and title work on acquired vehicles
- Service department capital: Lift installation, diagnostic equipment, and parts inventory for dealership service operations
- F&I department setup: DealerSocket, RouteOne, and Dealertrack DMS subscriptions for finance and insurance operations
- Marketing for lot traffic: AutoTrader, Cars.com, Carvana Dealer Network, and Google Ads campaigns
- Working capital for payroll: Sales consultants, finance managers, service technicians, and lot attendants
Check your Bankability Score or call (786) 443-5511.
Frequently Asked Questions
Yes. Car dealerships owned by L-1 holders qualify for Bankable working capital and operational funding. Active dealer license (franchise or independent used) and EIN required. No green card required.
Bankable provides operational working capital for dealership operations. Floor plan financing for vehicle inventory is a specialized product category — we help dealers identify floor plan providers and provide the operational capital that complements floor plan lines.
Vehicle retail sales gross, F&I product commissions, service department revenue, and parts sales all qualify as business revenue. We evaluate total dealership revenue across all departments.
Yes. Service department capital — lift installation, diagnostic equipment, parts inventory, and technician tooling — is asset-backed and qualifies for equipment financing.
Both qualify. Used car dealers have more flexible inventory sourcing (auctions, trade-ins) but no manufacturer support. Franchise dealers have OEM allocation support but more regulatory obligations. Revenue performance drives qualification for both.
Yes. Dealership payroll — sales consultants, finance managers, service technicians — is a significant operating expense that working capital lines address. Monthly payroll of $50K-$200K for a mid-size dealership requires working capital management.
Franchise dealer agreements have specific requirements around owner qualifications that may include citizenship preferences. Independent used car dealers have no such OEM restriction. Bankable evaluates both formats on business revenue.
Dealerships with $150K or more in monthly total revenue qualify for initial review. Minimum 6 months of operating history with a state-issued dealer license.