Key Takeaways
- Working capital covers payroll during the ramp-up period before new revenue arrives
- Employer setup costs — insurance, payroll software, workers' comp — all fundable
- TPS business owners can legally employ US workers
- No green card or SBA eligibility required
- 48-hour decisions — fund your hiring plan now
The transition from solo operator to employer is one of the most important and difficult moments in a small business owner's journey. For TPS entrepreneurs, this transition is also a statement of permanence and confidence in their business. Many TPS business owners have been the only worker in their operation for years — doing everything themselves to keep costs down. When the business grows to the point where hiring is necessary to grow further, capital becomes the constraint. Bankable provides the working capital to hire, train, and retain your first employees, giving your business the capacity it needs to scale.
What Hiring Capital Covers
- Payroll during ramp-up: New employees generate revenue, but there is usually a lag between hiring and the revenue impact. Working capital bridges that gap.
- Workers' compensation insurance: Required in most states once you have even one employee
- Payroll processing setup: Gusto, ADP, or QuickBooks Payroll setup and first months
- Uniforms and equipment: Equipping your first employees with the tools to do the job
- Training costs: Onboarding, certification, and training investment for new employees
TPS Business Owners as Employers
TPS holders with EADs can legally employ US citizens, permanent residents, and other work-authorized individuals. Your employees' immigration status is independent of your own — you do not need a green card to be someone's employer. Many TPS business owners employ dozens of US-born workers. This is one of the most powerful arguments for why TPS entrepreneurs deserve access to business capital: they are job creators in American communities.
Frequently Asked Questions
Yes. TPS holders with EADs can hire and employ other workers, including US citizens and permanent residents. Your status does not restrict your ability to be an employer.
A rough rule is 3 months of the new employee's salary plus onboarding costs. For a $45,000/year employee, budget $15,000-$20,000 in working capital for the first quarter.
Workers' comp insurance covers employees injured on the job. It is legally required in most states once you have even one employee. Bankable can include this cost in your working capital advance.
Yes. Working capital can be used for payroll, employee benefits, and related HR costs.
We advance working capital based on your business's current revenue. The advance covers 3-6 months of additional payroll costs while the new employee ramps up and contributes to revenue growth.
Yes. Family members who are legally authorized to work in the US can be hired as employees of your TPS-owned business.
Working capital gives you the runway to make hiring mistakes without business-threatening consequences. The advance is based on your existing revenue, not the new hire's projected contribution.
Your current revenue (bank statements) and a description of the hiring plan — the role, the expected salary, and how the hire will increase revenue — are the primary documentation.