Key Takeaways
- Used car dealerships owned by VAWA petitioners qualify for floorplan and working capital financing
- Dealer license required in all states — EAD holders are generally eligible
- Floorplan financing enables you to carry larger inventory without depleting operating cash
- No green card required — dealer license, EAD, and sales documentation sufficient
- Auto wholesalers and auction buyers also qualify based on gross revenue
Used car dealership entrepreneurship is an accessible and potentially highly profitable business for VAWA self-petitioners with automotive knowledge and sales skills. A well-run independent used car dealership generating $40,000–$100,000 in monthly gross revenue is a bankable business regardless of the owner's immigration status. Many VAWA petitioners with mechanical or sales backgrounds are building thriving dealerships that serve their communities.
Floorplan Financing
Finance vehicle inventory with floorplan lines that match your lot capacity.
Learn More →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.
State dealer licensing requirements vary. Most states require a business license, dealer surety bond, and a place of business. Immigration status requirements vary by state — most allow EAD holders to obtain dealer licenses. Check with your state's DMV or motor vehicle dealer licensing board.
Floorplan financing is a revolving line of credit that finances your vehicle inventory. When you purchase a car at auction, the floorplan funds the purchase. When you sell the car, you pay off that unit's floorplan balance. This allows you to maintain larger inventory than your cash would otherwise support.
We look at monthly gross sales volume, average gross profit per unit, inventory turn rate, and total units sold. Dealers selling 20+ units per month with consistent gross profits qualify at favorable terms.
Yes. Auto wholesalers who buy and sell vehicles at auction without a retail lot qualify based on their auction transaction volume and monthly gross profit documentation.
Combined dealership and repair shop businesses qualify. We evaluate the combined revenue from both dealership sales and repair operations. The dual revenue stream often strengthens the overall application.