Key Takeaways
- Equipment financing is available to VAWA petitioners with EADs — no green card required
- The equipment serves as collateral, making immigration status less relevant to approval
- Trucks, machinery, commercial kitchen equipment, medical devices, and salon furniture all eligible
- Lower effective rates than unsecured working capital because of the asset-backed structure
- Terms from 24 to 84 months to keep monthly payments manageable
Equipment financing is one of the most accessible forms of business credit for VAWA self-petitioners — and this is by design. When a lender finances a specific piece of equipment and that equipment serves as collateral, the lender's risk is substantially reduced. The lender can repossess the equipment in the event of default. This collateral position makes immigration status a far less critical factor in the credit decision than it is in unsecured lending.
The practical result: VAWA petitioners who have been turned down for working capital loans or business lines of credit due to immigration status often successfully obtain equipment financing for the same business. The equipment is the borrower's co-qualifier.
Equipment Categories by Industry
| Industry | Equipment Examples | Typical Amount |
|---|---|---|
| Restaurant/Food Service | Commercial ovens, refrigeration, dishwashers | $15,000–$100,000 |
| Trucking/Transportation | Class 8 trucks, refrigerated trailers, vans | $30,000–$200,000 |
| Construction | Excavators, lifts, compressors, generators | $20,000–$300,000 |
| Healthcare/Dental | Diagnostic equipment, chairs, imaging | $25,000–$500,000 |
| Beauty/Salon | Styling stations, dryers, nail systems | $5,000–$50,000 |
| Auto Repair | Lifts, diagnostic scanners, alignment systems | $10,000–$100,000 |
| Landscaping | Zero-turn mowers, trailers, skid steers | $10,000–$150,000 |
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.
Equipment financing uses the purchased asset as collateral. The lender has a tangible, repossessable asset securing the loan. This reduces the credit risk and makes immigration status less critical to the approval decision compared to unsecured lending.
Your EAD, business EIN, 3–4 months of business bank statements, and a quote or invoice for the specific equipment from the seller or vendor. For used equipment, a description and estimated market value are needed.
Used equipment from private sellers can be financed, but the process is more complex than dealer financing. We need a private sale agreement or bill of sale, and for high-value items, an independent appraisal confirming market value.
If you default on an equipment financing agreement, the lender can repossess the financed equipment. The repossession typically satisfies or substantially reduces the outstanding obligation. Your personal assets and other business assets are generally not at risk for equipment financing amounts under $150,000.
Yes. Equipment used at multiple locations (a food truck that moves, a trailer that serves multiple job sites, an ultrasound machine used at satellite clinic locations) is eligible provided the primary business entity is the borrower and operator.