Key Takeaways
- SBA 504 real estate loans now require 100% US citizenship—blocking most immigrant business owners from the program
- Commercial real estate purchases are still achievable through DSCR loans, portfolio lenders, and Bankable funding
- The three-part financing model (Bankable down payment + conventional first mortgage + seller financing) works for many purchases
- Property-value-based lenders care about the asset and income, not your immigration paperwork
- Bankable can provide up to $5M in purchase-support capital with 48-hour decisions for qualified businesses
Purchasing the building where your business operates is one of the most impactful financial decisions a business owner can make. Instead of paying rent that builds your landlord's equity, you build your own. The SBA 504 program existed precisely to make this accessible—low down payments, long terms, fixed rates below market. For non-citizens, it was often the only path to commercial property ownership.
As of March 1, 2026, that path is closed. But the destination—owning your commercial property—remains reachable through other routes.
SBA vs. Alternatives: 2026 Comparison
| Option | Citizenship | Max | Decision | Availability |
|---|---|---|---|---|
| SBA 7(a) | 100% required | $5M | 30-90 days | Blocked for non-citizens |
| Traditional Bank | Often required | Varies | 2-8 weeks | Limited for non-citizens |
| CDFIs | No | $250K | 2-4 weeks | Open, limited capacity |
| Bankable | No requirement | $5M | 48 hours | Fully open, 92% approval |
The Three-Part Financing Structure for Non-Citizen Commercial Property
Many successful non-citizen commercial property purchases use a layered financing approach:
- Bankable Revenue-Based Capital: Provides down payment capital (20-35% of purchase price) without citizenship requirements
- Conventional Commercial First Mortgage: A portfolio lender or non-bank commercial lender provides the primary mortgage (60-70% of purchase price) based on property value and business financials
- Seller Financing: The property seller carries back 10-20% of the purchase price, bridging the gap
Commercial Property Types and Financing Options
| Property Type | Best Non-SBA Path | Typical LTV |
|---|---|---|
| Office/Retail Strip | Portfolio commercial mortgage | 65-75% |
| Mixed-Use Building | Portfolio or DSCR loan | 70-75% |
| Warehouse/Industrial | SBA-ineligible commercial lender | 65-70% |
| Restaurant Building | Bankable + seller carry | Varies |
| Medical/Professional | Specialty healthcare lender | 75-80% |
Key Steps for Non-Citizens Purchasing Commercial Real Estate in 2026
- Step 1: Build 2+ years of US business banking history and tax returns
- Step 2: Establish business credit with D&B, Experian Business, and Equifax Business
- Step 3: Target portfolio lenders and community development lenders who hold loans in-house
- Step 4: Use Bankable funding for down payment capital ($200K-$1M depending on property price)
- Step 5: Negotiate seller financing (10-20% carryback) to reduce the primary mortgage needed
- Step 6: Close simultaneously or in sequence as pre-arranged with all lenders
Ready to map your path to commercial property ownership? Start with your Bankability Score.
SBA 504 closing didn't close the door on commercial property ownership for non-citizens—it just changed the map. Bankable helps you navigate it.
Frequently Asked Questions
Use a combination of: portfolio commercial mortgage (70% of purchase price), Bankable revenue-based down payment capital, and seller financing (10-20% carryback). This three-part structure replaces SBA 504 for most non-citizen buyers.
A portfolio lender is a bank or credit union that keeps loans on their own books rather than selling them to secondary markets. Because they aren't bound by Fannie Mae/Freddie Mac guidelines, they can set their own citizenship policies—and many have no citizenship requirement.
Yes. Bankable's revenue-based capital can be deployed as a down payment on commercial property. We fund based on your business revenue, not your immigration status.
Most commercial lenders look for 680+ personal credit score and strong business credit. Some DSCR and portfolio lenders will accept 640+ if the property income is strong.
Portfolio commercial mortgages typically take 3-6 weeks to close. DSCR loans can close in 2-4 weeks. Bankable's down payment capital decision is made in 48 hours.
Most commercial lenders want 2 years of US business tax returns and personal returns. Some portfolio lenders accept alternative income documentation for non-citizens.
Seller financing means the property seller acts as the lender for a portion of the purchase price. This is negotiated directly with the seller and has no citizenship requirements—it's a private transaction between buyer and seller.
Yes. A US-registered LLC can purchase commercial property regardless of the citizenship of its owners. Most commercial real estate loans are made to the business entity, not the individual.
Income-producing properties with strong DSCR (1.25x or higher) are easiest through DSCR loans. Owner-occupied properties with strong business revenue are best suited for portfolio commercial mortgages.
Yes. A commercial mortgage broker with experience serving non-citizen borrowers can access 50-100 lenders including portfolio banks, DSCR specialists, and SBA-alternative lenders—dramatically expanding your options.