Key Takeaways
- Car dealerships owned by TN holders qualify for Bankable funding
- Inventory flooring and working capital available without green card
- SBA eliminated TN eligibility March 2026 — Bankable funds dealerships directly
- Independent and used car lots are strong Bankable candidates
- Revenue from vehicle sales and F&I products both counted in underwriting
Automotive retail encompasses new franchised dealerships, independent used car lots, BHPH (buy here pay here) operations, and specialty vehicle dealers. TN holders from Canada and Mexico frequently build used car and independent dealership operations that leverage their engineering knowledge (vehicle evaluation) and business acumen (inventory management, F&I profitability). A mechanical engineer on TN who knows how to evaluate a vehicle's mechanical condition runs a used car operation with significantly lower reconditioning costs than competitors who lack that expertise.
The automotive retail model requires substantial working capital primarily for inventory: a 50-unit used car lot with an average selling price of $25,000 requires $1.25 million in inventory investment. Floor plan financing covers a portion of this; working capital and gap financing cover operational needs. Bankable supplements floor plan with working capital advances for advertising, payroll, and lot operations.
Car Dealership Capital Uses
- Inventory working capital: Supplement floor plan financing for additional units or auction purchases
- Reconditioning costs: Vehicle preparation, detailing, and mechanical repair before sale
- Payroll and operations: Sales staff, finance managers, and lot operational costs
- Digital advertising: CarGurus, AutoTrader, Facebook Marketplace, and Google advertising
- New lot expansion: Security deposits, infrastructure, and signage for additional location
Inventory Capital
Supplement floor plan with working capital for additional inventory acquisition.
Apply Now →Working Capital
Cover payroll, reconditioning, and advertising between vehicle sale cycles.
Get Started →Expansion Capital
Open a second location or expand lot capacity with revenue-based financing.
Apply Now →Frequently Asked Questions
Yes. TN holders can own US businesses through US-registered LLCs or corporations. Business ownership does not violate TN status as long as the TN holder maintains their primary employment relationship with their TN sponsor.
No. Bankable does not require a green card, permanent residency, or any specific immigration status. TN holders with SSNs and US business entities are eligible applicants.
The SBA updated its rules effective March 1, 2026, eliminating TN visa holders from SBA 7(a) and 504 loan eligibility. Bankable provides non-SBA revenue-based capital with 48-hour decisions.
Bankable delivers decisions within 48 hours of a complete application. Funded amounts are typically in the business account within 3-5 business days.
Bankable generally requires a US-registered business entity, SSN, 6+ months of operating history, and $15,000 or more in monthly business revenue.
Yes. Car dealerships can be owned by TN holders. The business entity holds the dealer license. New franchised dealership ownership may have franchisor residency requirements; independent and used car lots generally do not.
Yes. Operational working capital for payroll, reconditioning, advertising, and operational costs is a core Bankable product for automotive retailers with documented revenue.
Bankable requires $25,000 or more in monthly revenue for dealership working capital. Used car lots with 10+ unit monthly sales typically meet this threshold.
Yes. Bankable working capital complements floor plan financing by covering operational costs and additional inventory purchases beyond floor plan limits.
The SBA eliminated TN holder eligibility in March 2026. Dealership owners who used SBA 7(a) for facility and working capital now use Bankable's direct capital products.