Key Takeaways
- Equipment financing is one of the most accessible funding types for L-1 holders because the equipment is the collateral
- No green card required — Bankable's equipment financing is available to all visa categories with US businesses
- SBA equipment programs are closed to L-1 holders since March 2026 — Bankable fills that gap
- New and used equipment eligible up to $2M per transaction
- Equipment can serve as its own collateral, reducing creditworthiness requirements
Equipment financing without a green card is one of the most straightforward financing scenarios for L-1 visa holders. The reason is structural: when the asset you are financing serves as its own collateral, lenders can extend credit based primarily on the asset's value and useful life rather than needing to rely heavily on the borrower's personal creditworthiness or citizenship. A commercial refrigeration unit worth $50,000 is worth $50,000 regardless of the owner's immigration status — and Bankable underwrites accordingly.
This makes equipment financing one of the most reliable first financing products for L-1 holders who have not yet established extensive US credit history or banking relationships. If your business needs a specific piece of equipment to operate or grow, that equipment itself becomes the case for financing.
Why Equipment Financing Works Without a Green Card
Traditional bank lending relies on the borrower's creditworthiness as the primary protection against default. When there is uncertainty about a borrower's credit (due to thin US history or non-citizen status), banks add requirements that many L-1 holders cannot meet. Equipment financing sidesteps this by using the equipment itself as primary collateral. If you cannot repay, the lender can repossess and resell the equipment to recover the loan balance. This secured structure means Bankable can approve equipment loans for L-1 holders who might struggle to qualify for unsecured working capital.
Types of Equipment L-1 Holders Commonly Finance
Bankable has financed equipment for L-1 holders across virtually every industry: commercial kitchen equipment for restaurant owners, CNC machines and industrial presses for manufacturers, medical and dental equipment for practice owners, construction excavators and lifts, commercial trucks and trailers for transportation companies, technology infrastructure for IT businesses, beauty and salon equipment, fitness equipment for gym owners, and agricultural machinery. If it has a useful life and a resale market, it can likely be financed.
The Application Process
Equipment financing applications are among the fastest at Bankable because the collateral simplifies underwriting. We need: a quote or invoice for the equipment, 3–6 months of business bank statements, basic entity documentation, and your SSN. For established equipment from known manufacturers, approvals can come within hours of application. Start with our Bankability Score tool and review our complete financing options.
Frequently Asked Questions
Yes. Equipment financing is available to L-1 visa holders without a green card. The equipment itself serves as collateral, which reduces the creditworthiness requirements compared to unsecured financing. Bankable approves equipment loans for L-1 holders in 48 hours.
Virtually any equipment with a determinable useful life and resale market can be financed: commercial kitchen equipment, CNC machines, medical and dental equipment, trucks and trailers, construction equipment, technology infrastructure, agricultural equipment, and more. If it has value, it can typically serve as collateral.
When equipment serves as collateral, the lender can rely on the asset's value as protection against default rather than primarily on your personal creditworthiness. This means citizenship status, thin credit history, and limited US banking history are less disqualifying than they would be for unsecured products.
Yes. New equipment typically qualifies for 100% financing with no down payment. Used equipment usually requires 10–20% down and may need an independent appraisal for assets above $50,000. Both are available to L-1 holders through Bankable.
Overseas equipment being imported to the US can be financed. We can structure the draw to coincide with delivery and US customs clearance. Additional documentation of the import process and any tariffs may be required. International lead times should be factored into your financing timeline.
Early-stage businesses have more limited equipment financing access than established businesses, but equipment financing remains possible because the asset itself provides collateral. For very new businesses (under 3 months), a larger down payment (25–35%) may be required to offset limited operational history.
For new equipment from established manufacturers, Bankable often provides 100% financing with no down payment. The down payment requirement increases for older equipment, niche equipment with limited resale markets, or very new businesses. Typical down payments when required are 10–25%.
Equipment loan terms at Bankable range from 24 to 84 months (2–7 years). We typically match the loan term to the equipment's useful life. A commercial oven with a 10-year useful life may be financed over 7 years; a technology server with a 5-year useful life would be financed over 3–5 years.
If you recently purchased equipment with cash, Bankable may be able to provide a sale-leaseback arrangement where we provide a loan against the equipment's value, returning that cash to your operating account. This requires recent purchase (typically within 90 days) and an appraisal.
Bankable requires: a vendor quote or invoice for the equipment being purchased, 3–6 months of business bank statements, basic entity documentation (formation documents and EIN), and your SSN. For used equipment above $50,000, an independent appraisal is typically required.