Key Takeaways
- Primary ID: active EAD (Employment Authorization Document)
- Financial proof: 3–6 months of business bank statements
- Business structure: LLC/incorporation docs or DBA registration
- Optional but helpful: business tax returns, recent P&L statement
- No green card, no citizenship certificate, no multi-year tax history required
The Complete Document Checklist for Parole Business Owners
One of the biggest misconceptions about business funding for parole-status owners is that the documentation requirements are overwhelming. In reality, Bankable's application is straightforward — and designed for business owners who may not yet have the multi-year paper trail that traditional banks require.
Here is the complete document list, organized by priority.
Required Documents (Must Have)
1. Active Employment Authorization Document (EAD)
Your EAD — Form I-766 — is your primary identification document. It must be current (not expired). If your renewal is in process, a renewal receipt notice (Form I-797) combined with the expired card is typically sufficient. The EAD category code does not matter; all humanitarian parole EAD categories are accepted.
2. Business Bank Statements (3–6 Months)
This is the most important document in the application. Bankable reads your bank statements to understand your revenue volume, consistency, and trends. Three months is the minimum; six months gives a clearer picture and typically results in a larger funding offer. The account must be a business account in your business's name — not a personal account, even if you currently deposit business revenue into it.
3. Business Formation Documents
Proof that your business is legally registered: LLC operating agreement, Articles of Incorporation, or a DBA (Doing Business As) certificate from your local government. If you operate as a sole proprietor, a business license may substitute.
Strongly Recommended Documents (Not Always Required)
4. Most Recent Business Tax Return
If your business has been operating for more than one year and has filed a tax return (Schedule C for sole proprietors, Form 1065 for partnerships, Form 1120-S for S-Corps), providing it strengthens your application and may increase your funding amount. It is not required if your bank statements clearly show revenue.
5. Profit & Loss Statement (P&L)
A current P&L prepared by you or your accountant gives Bankable a complete picture of your revenue vs. expenses. Not required, but helpful for larger funding requests.
6. Government-Issued Secondary ID
A passport, state ID, or driver's license (even a foreign-issued one) as a secondary form of identification. Not required if your EAD is clear and current.
Documents You Do NOT Need
- Green card or Lawful Permanent Resident card
- U.S. citizenship certificate or passport
- Multi-year U.S. tax return history (2+ years)
- U.S. citizen co-signer or guarantor
- Business credit score above a specific threshold
- Collateral documentation (real estate, etc.) for most funding types
Check your Bankability Score to see what funding you qualify for right now. Also learn about why SBA documentation requirements are different.
Frequently Asked Questions
The core requirements are: active EAD, 3–6 months of business bank statements, and business formation documents (LLC or DBA). Business tax returns and a P&L are helpful but not always required.
No. Bankable requires a U.S. business bank account in your business's name. If you don't have one yet, opening a business checking account at a U.S. bank is the first step.
Your EAD should match your personal name on the business formation documents. If there's a discrepancy (different romanization of your name, for example), include an explanation with your application.
No. Bankable requires business account statements. If you've been depositing business revenue into a personal account, opening a separate business account and operating it for 3 months before applying is strongly recommended.
No. Most applicants prepare their own applications using documents they already have. An accountant's P&L is helpful for larger requests but not required.
Three months is the minimum. With less than 3 months of history, Bankable typically cannot make a funding decision. If you're new, wait until you have 3 months of consistent deposits.
Home-country documents (like a foreign ID for secondary verification) may need a certified translation. Your EAD is a U.S. document and doesn't require translation.
Documents are submitted through Bankable's secure online portal. The application takes approximately 15 minutes. No in-person meetings are required.