Key Takeaways
- Equipment financing is asset-backed — the equipment itself reduces lender risk, improving non-citizen access
- Commercial vehicles, restaurant equipment, medical devices, and industrial machinery all qualify
- Non-citizens with thin credit history often qualify for equipment financing when unsecured loans are declined
- No green card required — SSN and business documentation plus equipment appraisal are sufficient
- Equipment financing available up to $1M per transaction with competitive fixed rates
Equipment financing without a green card is one of the most practical capital solutions for non-citizen business owners because the asset-backed structure fundamentally changes the credit equation. Traditional lenders worry about non-citizens defaulting and leaving — equipment lenders can simply repossess the asset. This structural reality makes equipment financing significantly more accessible to non-citizens than unsecured alternatives.
For the DACA recipient's food truck, the H-1B professional's medical diagnostic equipment, the TPS holder's landscaping fleet, and the TN engineer's field testing equipment — Bankable structures equipment financing based on the asset's value and the business's operating history, without ever inserting citizenship into the evaluation.
SBA Loans vs. Traditional Banks vs. Bankable
The March 1, 2026 SBA rule change eliminated all non-citizen, non-national applicants from SBA 7(a) and 504 programs. Here is how your options compare:
| Factor | SBA 7(a) (Pre-2026) | Traditional Bank | Bankable |
|---|---|---|---|
| Green Card Required? | No (changed Mar 1, 2026) | Usually yes | Never |
| Citizenship Required? | Yes (as of Mar 1, 2026) | Sometimes | No |
| SSN Accepted? | N/A (citizenship required) | Rarely alone | Yes — primary requirement |
| Decision Speed | 30-90 days | 30-60 days | 48 hours |
| Max Funding | $5M (if eligible) | Varies | Up to $5M |
| Collateral | Required | Required | Revenue-based, minimal |
| Min. Revenue | Varies | $500K+ | $120K annual |
Equipment Financing vs. Other Capital Products
| Factor | Equipment Financing | Revenue Advance | Term Loan |
|---|---|---|---|
| Collateral | The equipment itself | Business lien | Business lien ± assets |
| Credit Requirements | Lower (asset mitigates risk) | Revenue-based | Credit-based |
| Down Payment | 10-20% | None | None-20% |
| Best For | Specific asset acquisition | General working capital | Planned growth investment |
| Green Card Required? | Not at Bankable | Not at Bankable | Not at Bankable |
Begin your equipment financing application by checking your Bankability Score. Bankable's equipment financing team works with all non-citizen business owners to structure asset-backed funding that puts the right tools in your business immediately. No green card required — just your SSN, your business history, and the equipment you need to grow.
Frequently Asked Questions
Because the equipment itself serves as collateral. In an unsecured loan, the lender's primary risk is the borrower's ability and willingness to repay — which traditional lenders assess through citizenship and residency as proxies. In equipment financing, if the borrower defaults, the lender repossesses the asset. This additional security allows Bankable to approve non-citizens who might not qualify for unsecured products.
Commercial vehicles (trucks, vans, specialized vehicles), restaurant and food service equipment (ovens, refrigeration, POS systems), medical and dental equipment, construction machinery (excavators, lifts, compactors), manufacturing equipment, salon and beauty equipment, landscaping equipment (mowers, trailers), and technology hardware (computers, servers, kiosks).
Equipment financing at Bankable typically requires 10-20% down payment (or equivalent equity in the financed asset). This is lower than most unsecured loan down payment equivalents and demonstrates borrower commitment to the financed asset.
Yes. Bankable finances both new and used equipment. Used equipment is appraised at fair market value for financing purposes. The financing amount is based on the appraised value rather than the original purchase price.
The equipment financing obligation transfers with the business entity, not with the individual. If your business continues to operate legally (and you maintain work authorization), the financing continues normally. Consult an immigration attorney if your work authorization may lapse.