Key Takeaways
- Traditional banks typically require a green card or citizenship — rejecting most VAWA petitioners
- Bankable requires only an EAD, EIN, and 4 months of revenue — no green card needed
- Banks take 3–8 weeks for decisions; Bankable takes 48 hours
- Banks require 2+ years in business; Bankable requires 4 months
- Bankable rates are higher than bank rates, but bank rates are irrelevant if you cannot get a bank loan
The comparison between a traditional bank and Bankable is not really a comparison — it is a choice between accessible capital and no capital at all. For most VAWA self-petitioners, a traditional bank business loan is not a realistic option, regardless of how strong your business is. Understanding why clarifies why Bankable exists.
The Realistic Bank Experience for VAWA Petitioners
A VAWA self-petitioner walks into a bank or applies online. The banker asks for ID. They see the EAD. Immediately, the conversation shifts to questions about immigration status. They ask for a green card. You explain that you have an EAD. They say they need a green card or citizenship. You explain that your business has $40,000/month in revenue and 3 years of history. They say their policy requires permanent residency. You leave without capital.
This is not hypothetical. It is the documented experience of thousands of VAWA petitioners. Banks have internal policies that exceed legal minimums on immigration status. Even when a bank technically can serve EAD holders, front-line bankers are trained to require green cards or citizenship as a de facto standard.
Full Comparison
| Factor | Traditional Bank | Bankable |
|---|---|---|
| Green card required | Yes (in practice) | No |
| EAD accepted | Rarely | Always |
| Minimum time in business | 2–3 years | 4 months |
| Credit score requirement | 680+ personal (typically) | Flexible — revenue primary |
| Decision timeline | 3–8 weeks | 48 hours |
| Funding timeline | 1–3 weeks after decision | 3–7 days after decision |
| Revenue-based repayment | No | Yes |
| Interest rates | Prime + 2–4% | Factor rates — higher but accessible |
| Maximum amount (EAD holder) | $0 (typically) | $500,000 |
Frequently Asked Questions
No. Bankable does not require a green card, US citizenship, or permanent residency. A valid Employment Authorization Document (EAD), business EIN, and 4 months of documented business revenue are the primary requirements.
Bankable issues funding decisions within 48 hours of a complete application. Funds reach your business bank account within 3 to 7 business days of approval.
No. Business financing is a lawful commercial activity. Bankable does not report to USCIS or any immigration agency. Your petition and your business financing are entirely separate matters.
Some credit unions, CDFI lenders, and community banks will work with EAD holders for business accounts and small loans. These are exceptions rather than the rule and typically offer smaller amounts ($5,000–$25,000). Bankable provides significantly larger amounts with faster timelines for most VAWA petitioner businesses.
Yes. Bankable's factor rates are higher than traditional bank interest rates. The cost premium reflects the additional risk of serving early-stage businesses and non-traditional borrowers. The relevant comparison is not Bankable vs. a bank loan you could get — it is Bankable vs. no capital at all.
Yes. Applying to Bankable does not prevent you from simultaneously exploring bank and credit union options. Many clients use Bankable for immediate capital while maintaining the longer-term goal of qualifying for traditional bank financing as their business matures and their immigration status potentially changes.
Bankable reports to business credit bureaus, not personal credit bureaus. Responsible repayment builds your business credit. This may actually help you qualify for traditional bank financing in the future rather than hurt your chances.
Discrimination based on immigration status in lending is a complex legal area. Banks generally do not cite immigration status explicitly — they cite policy requirements like 'must have permanent residency' that effectively exclude VAWA petitioners. If you believe you have been discriminated against based on national origin or immigration status, organizations like the National Consumer Law Center and CFPB can provide guidance.