Key Takeaways
- SBA 7(a), 504, and Microloan programs all require citizenship as of 2026
- Bankable provides the most comprehensive SBA alternative for TPS businesses
- CDFIs, credit unions, and equipment lenders are additional alternatives
- Private commercial lending is fully available to TPS holders
- Revenue-based funding from $25K to $5M with 48-hour decisions
Before 2026, the SBA 7(a) loan program was the gold standard for small business financing: government-backed guarantees allowed banks to offer lower interest rates and longer terms than they would otherwise provide. Many TPS entrepreneurs accessed SBA loans through banks that were willing to work with them despite their immigration status. The 2026 rule change ended that. The SBA now requires 100% US citizen or national ownership — a categorical rule with no exceptions for length of residency, business track record, or tax compliance history.
This guide covers the best alternatives for TPS business owners in 2026:
Alternative 1: Bankable Revenue-Based Funding
Bankable is specifically designed to serve business owners who cannot access SBA financing. Our revenue-based products cover working capital ($25K-$500K), equipment financing ($25K-$2M), and growth capital ($500K-$5M). No green card, no SBA eligibility, no real estate collateral required for most products. 48-hour decisions. Check your Bankability Score.
Alternative 2: Community Development Financial Institutions (CDFIs)
CDFIs are mission-driven lenders specifically designed to serve underserved communities, including immigrant entrepreneurs. Many CDFIs are not subject to SBA eligibility requirements and have specific programs for TPS holders. Amounts are smaller (typically $5K-$250K) and terms vary. Find CDFIs in your area at OFN.org or CDFI.treas.gov.
Alternative 3: Equipment Financing
Equipment financing from private lenders (including Bankable) is the most universally accessible product for TPS businesses because the equipment itself is the collateral. Construction, trucking, healthcare, and manufacturing businesses with equipment needs can often access $50K-$2M in equipment financing regardless of SBA eligibility. See our TPS equipment financing guide.
Alternative 4: Invoice Factoring
For B2B TPS businesses with outstanding client invoices, factoring provides immediate cash against those invoices. No SBA eligibility required. No immigration status issue. You are selling a receivable, not taking a loan.
Alternative 5: Credit Unions and Community Banks
Some credit unions and community banks have more flexible policies regarding TPS holders than the SBA requires. Policies vary significantly — call multiple institutions in your area and ask specifically about their policies for TPS-holder borrowers.
Frequently Asked Questions
All SBA loan programs: 7(a) standard, 7(a) small, 504, Microloan, CAPLine, and Export Loan programs all now require 100% US citizen or national ownership.
No. The rule is categorical — 100% citizen/national ownership is required. There are no exceptions for length of US residency, tax compliance, or business track record.
No. SBA Microloans also require SBA eligibility, which now requires citizenship or national status.
No. Bankable is a private commercial lender. We are not affiliated with the SBA and are not subject to SBA eligibility rules.
Often yes. CDFIs are specifically designed to serve underserved entrepreneurs and many have TPS-inclusive policies. Amounts are smaller than Bankable but CDFIs can serve early-stage businesses.
Yes. Equipment financing from private lenders like Bankable does not require SBA eligibility. The equipment is the collateral.
Bankable: 48-hour decision, 3-5 days to fund. This is significantly faster than any SBA lender and most other alternatives.
This is uncertain and depends on future policy changes. TPS holders should not wait for the rule to change — work with private lenders now.