Key Takeaways
- Traditional banks typically require green card or citizenship — Bankable does not
- Bankable decides in 48 hours — banks take 4-8 weeks
- Banks offer lower rates but stricter requirements and frequent TPS denials
- Bankable is built for TPS entrepreneurs — banks were not
- The relevant comparison is Bankable vs. no funding at all — not Bankable vs. a bank that won't lend
When TPS business owners ask about bank loans versus Bankable, they are often asking: should I try to get a cheaper bank loan first? The honest answer requires examining what bank loans actually look like for TPS holders in 2026.
Can TPS Holders Get Traditional Bank Loans?
Traditional bank lending is not subject to SBA rules — banks make their own credit decisions. Some banks will consider TPS holders; many will not. The variables:
- Large national banks (Chase, Wells Fargo, Bank of America): Most have policies that effectively require green card or citizenship for business loans. TPS holders are usually declined or steered to products that don't fit their needs.
- Community banks and credit unions: More variable. Some community banks and credit unions have experience with immigrant entrepreneurs and more flexible policies. Worth asking directly.
- Online banks: Vary widely. Some have inclusive policies; others require citizenship.
Side-by-Side Comparison
| Factor | Traditional Bank | Bankable |
|---|---|---|
| TPS Eligibility | Often declined or unclear | Yes — always accepted |
| Decision Time | 4-8 weeks | 48 hours |
| Interest Rate | Lower (7-12% APR) | Higher (12-30% depending on product) |
| Collateral Required | Often real estate | Usually not required |
| Credit Score | 700+ typically | 600+ generally acceptable |
| Revenue History | 2+ years preferred | 6 months minimum |
| Green Card | Usually required | Not required |
The relevant comparison for most TPS holders is not bank rates vs. Bankable rates — it is Bankable vs. having no access to capital at all. Check your Bankability Score to see your personalized Bankable options.
Frequently Asked Questions
Some community banks and credit unions will consider TPS holders. Most large national banks will not. Policies vary widely — call individual institutions and ask specifically about TPS holder eligibility.
Yes. Bankable's rates are higher than traditional bank rates because we serve higher-risk borrowers (newer businesses, immigration status uncertainty). The premium is the cost of access.
If you have time and believe a bank will consider you, yes — bank rates are lower. If you need capital quickly or believe banks will decline you, apply to Bankable first.
Some do. Call community banks and credit unions in your area and ask directly: 'Do you consider TPS holders for business loans?' Get a clear answer before spending time on an application.
The relevant comparison is not Bankable vs. a bank that won't lend — it is Bankable vs. no capital. If a $100,000 advance at 1.30 factor enables $200,000 in revenue growth, the cost is clearly justified.
Yes. Many TPS businesses use Bankable capital to grow, establish a stronger credit profile, and then refinance with a community bank or credit union for lower long-term rates.
A Bankable application generates a soft inquiry that does not affect your credit score. If you receive an offer and sign, there may be a hard inquiry.
This is discrimination in some contexts. However, the legal landscape around business lending discrimination is complex. Practically, the fastest solution is to apply to Bankable.