Key Takeaways
- SBA 504 loans—the primary commercial real estate tool—now require 100% US citizenship, blocking most visa holders
- Bankable's revenue-based funding up to $5M can finance commercial property purchases, renovations, and expansions
- Loan-to-value ratios and qualification are based on business revenue, not immigration status
- Non-citizen real estate investors and business owners have multiple alternative paths to property capital
- Some conventional commercial lenders have no citizenship requirement—Bankable can help identify the right path
Commercial real estate has long been one of the most reliable wealth-building tools for immigrant entrepreneurs. Owning your business's physical location instead of renting provides equity accumulation, tax advantages, and operational stability. The SBA 504 loan—with its 10-40 year terms, below-market fixed rates, and 10% down payment requirements—was the gold standard for non-citizen business owners looking to purchase commercial property.
That changed on March 1, 2026. The new SBA rule requiring 100% US citizenship for all 7(a) and 504 borrowers means visa holders can no longer access these programs. For immigrant business owners who planned to use an SBA loan to purchase their building, the path changed overnight.
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 |
Real Estate Financing Options for Non-Citizen Business Owners
- Bankable Revenue-Based Funding: Up to $5M, 48-hour decisions, no citizenship requirement. Best for businesses with $500K+ in annual revenue
- Conventional Commercial Mortgages: Some banks and credit unions will lend to non-citizens with strong business financials and US business banking history
- Portfolio Lenders: Community banks that hold loans in-house (instead of selling to Fannie/Freddie) often have no citizenship requirement
- DSCR Loans: Debt service coverage ratio loans qualify based on property income, not borrower citizenship—ideal for income-producing properties
- Hard Money / Bridge Loans: Short-term property financing based on asset value, typically no citizenship requirement
- SBA-Ineligible Lenders: Non-bank commercial lenders not bound by SBA rules often have more flexible citizenship policies
How Bankable's Real Estate Funding Works
Bankable's tranche-based funding model works differently from a traditional mortgage. We advance capital based on your business revenue—capital that can be used for a down payment on commercial property, renovation costs, or bridge financing while you arrange permanent property financing. Our funding is particularly valuable for:
- Down payment assistance when conventional financing is approved but SBA gap financing is needed
- Property renovation and improvements that increase value or expand capacity
- Bridge financing between property purchase and longer-term financing
- Multi-property real estate investment by non-citizen business owners
Qualifying for Commercial Real Estate Funding Without SBA
| Qualification Factor | SBA 504 (Blocked) | Bankable Revenue-Based |
|---|---|---|
| Citizenship | 100% US citizen required | Not required |
| Primary Qualifier | Business type + personal credit | Monthly revenue |
| Property Requirement | Owner-occupied 51%+ | No property requirement |
| Down Payment | 10% | Revenue-based, varies |
| Decision Time | 45-90 days | 48 hours |
Ready to fund your commercial real estate goals? Start your Bankability Score assessment here.
Real estate has always been a cornerstone of immigrant wealth-building in America. The SBA closure doesn't end that story—it changes the first chapter. Apply with Bankable today.
Frequently Asked Questions
Yes. While SBA 504 loans are blocked, conventional commercial mortgages, portfolio lenders, DSCR loans, and revenue-based funding from Bankable all remain open to non-citizen business owners.
The best SBA 504 replacements for non-citizens are: portfolio lender commercial mortgages (no SBA rules), DSCR loans (based on property income), and Bankable's revenue-based funding for down payments or bridge capital.
Bankable provides up to $5M in revenue-based funding that can be applied toward commercial real estate. Qualifying businesses need $150K+ in annual revenue and 12+ months of operating history.
No. Many commercial lenders do not require a green card. Qualification is typically based on business financials, credit history, and property value rather than immigration status.
A DSCR (Debt Service Coverage Ratio) loan qualifies based on whether the property's income covers the loan payments. Immigration status typically does not affect DSCR loan eligibility.
Yes. H-1B visa holders can purchase commercial real estate through conventional commercial mortgages, portfolio lenders, and DSCR loans. SBA 504 is now blocked, but multiple alternatives exist.
Without SBA's 10% minimum, conventional commercial lenders typically require 20-35% down. DSCR lenders vary by property type. Bankable's revenue-based funding can help with the down payment.
Bankable's up-to-$5M revenue-based funding can provide down payment capital, bridge financing between purchase and permanent financing, renovation capital, or working capital that frees up equity for real estate.
California, Texas, Florida, New York, and New Jersey have large immigrant business communities and active commercial real estate markets. Portfolio lenders in these states often serve non-citizen borrowers.
E-2 visas are non-immigrant visas (no direct path to green card), which some lenders view as higher risk. However, DSCR loans, hard money lenders, and Bankable's revenue-based funding are all available to E-2 holders.