Key Takeaways
- TPS holders are not US citizens and fail the March 2026 SBA 100% citizen ownership requirement
- TPS holders from El Salvador, Haiti, Honduras, Nepal, and 10+ other countries are affected
- Many TPS holders have operated US businesses for 10-25 years—business strength is their real credential
- Bankable evaluates business revenue and operating history—not immigration status
- 48-hour funding decisions for TPS-owned businesses generating $150K+ in annual revenue
Temporary Protected Status was designed as a humanitarian measure—allowing nationals of countries experiencing armed conflict, natural disasters, or extraordinary conditions to remain and work legally in the United States. But for the thousands of TPS holders who built businesses during their years in the US, TPS has been the foundation of an American economic life. Businesses employing dozens of workers. Businesses that have operated for 15, 20, even 25 years. Businesses that are, by any practical measure, American enterprises.
The March 2026 SBA rule doesn't care about any of that. It requires 100% US citizen or US national ownership. TPS holders—regardless of how long they've been here, how many employees they have, or how strong their businesses are—now fail this test entirely.
SBA vs. Alternatives: 2026 Comparison
| Option | Citizenship Required | Amount | Decision Time | Approval Rate |
|---|---|---|---|---|
| SBA 7(a) | Yes (100% US citizen/national as of March 2026) | Up to $5M | 30-90 days | Blocked for non-citizens |
| Traditional Banks | Usually required | Varies | 30-60 days | ~20% for non-citizens |
| CDFIs | No (limited capacity) | Up to $250K | 2-4 weeks | 50-60% |
| Bankable (Revenue-Based) | No citizenship required | Up to $5M | 48 hours | 92% revenue-qualified |
Which TPS Countries Are Most Affected?
TPS is currently designated for nationals of:
- El Salvador: One of the largest TPS populations with significant business ownership in construction, landscaping, and food service
- Haiti: TPS holders concentrated in South Florida with strong presence in cleaning services, transportation, and retail
- Honduras: Business owners in construction, food service, and agricultural operations
- Nepal: TPS holders with businesses in tech services and retail
- Somalia: TPS holders with small businesses in commercial transportation and food
- South Sudan, Sudan, Syria, Yemen: Smaller populations with concentrated business ownership in professional services and retail
- Ukraine: More recent TPS holders establishing businesses in tech and professional services
- Venezuela: Growing TPS population with business formation in Miami and Houston
The Decades Problem
El Salvador TPS was first designated in 2001. Some TPS holders from El Salvador have been in the United States for 25 years, building businesses that have outlasted multiple presidential administrations, financial crises, and public health emergencies. These are not temporary businesses run by temporary residents—they are multigenerational enterprises whose owners happen to still be awaiting a permanent immigration resolution. The SBA rule wipes out their capital access in one stroke.
Bankable's Solution for TPS Business Owners
When we review a TPS business owner's application, we look at one thing: the business. How long has it been operating? What is the revenue trajectory? Is cash flow consistent? Do the numbers support the capital being requested? The answers to those questions determine our decision—not the immigration category of the owner.
A Salvadoran TPS holder operating a $1.2M landscaping business since 2005 is an extraordinary credit risk in the best sense—decades of operating history, demonstrated ability to sustain a business through recessions and disruptions, and a community reputation that drives referral revenue. That is exactly the kind of business Bankable funds. Apply in 5 minutes here.
Frequently Asked Questions
Yes, from private lenders including Bankable. The SBA blocked TPS holders on March 1, 2026 under the 100% citizen ownership rule. Bankable offers up to $5M with no immigration status requirements.
El Salvador, Haiti, and Honduras have the largest TPS business owner populations. Ukrainian TPS holders are a growing group. All TPS-held nationalities are equally blocked from SBA loans under the March 2026 rule.
Only insofar as it reflects business operating history. A TPS holder who has operated for 20 years has 20 years of business history—which is a strong qualification signal. TPS status itself does not affect our underwriting.
Construction and landscaping (Salvadoran and Honduran communities), cleaning services (Haitian communities), food service (all communities), transportation and logistics, and retail are the most common sectors.
Yes. Bankable's funding is not contingent on immigration status resolution. We fund based on business revenue and history.
Between $50K and $5M in revenue-based tranche funding, depending on your business's annual revenue and financial profile.
EIN or ITIN, 3 months of business bank statements, and basic business information. No immigration documents required.
California, Florida, Texas, and New York have state-level programs and CDFI networks that serve TPS entrepreneurs. These provide supplementary capital of $10K-$250K.
Bankable's revenue-based funding does not have immigration-contingent clauses. Your loan obligation is based on business performance, not immigration status.
48-hour decision from application submission. Funding delivered within 5-7 business days after approval.