Key Takeaways
- Working capital to cover first-employee payroll, benefits, and training costs is available to VAWA petitioners
- Hiring your first employee is the most transformational growth step a solo business can take
- Bankable advances capital to cover 3–6 months of new employee costs before revenue increases to absorb them
- No green card required — EAD, business EIN, and revenue documentation sufficient
- Employee costs include payroll, payroll taxes, workers comp insurance, and onboarding expenses
Hiring your first employee is the moment a solo business becomes a business. It is also one of the most financially demanding transitions, because you commit to a regular payroll obligation before the additional revenue that employee enables has materialized. For VAWA self-petitioners who have been running solo operations, working capital that covers this transition period is the difference between staying small and scaling.
A cleaning company owner who hires a second cleaner can serve twice as many clients. A salon owner who adds a stylist fills more chairs. A contractor who hires a skilled laborer can take on more jobs simultaneously. Bankable provides the bridge capital that makes this growth leap financially safe — not financially risky.
What Hiring Capital Covers
- Payroll: 3–6 months of new employee salary or hourly wages
- Payroll Taxes: Employer portion of FICA, state unemployment, and other payroll taxes
- Workers Compensation Insurance: Required in most states; premiums vary by industry and payroll
- Onboarding Costs: Background checks, uniforms, tools, training time, and licensing
- HR Software: Payroll processing platforms (Gusto, ADP) and HR management tools
Revenue-Based Financing
Repay from business revenue as new employee increases your 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.
Yes. VAWA self-petitioners with EADs can legally hire employees. As an employer, you must verify your employees' work authorization using Form I-9 — but your own EAD satisfies work authorization as the business owner. Your employees' documentation is their own responsibility.
Use a payroll service like Gusto, ADP, or Paychex. You need a business EIN (which VAWA petitioners can obtain), a business bank account, and to register as an employer with your state tax agency. Payroll services handle the technical setup.
For a part-time or entry-level hire, total employment cost (wages plus employer taxes plus insurance) typically runs 25–35% more than the base wage. A $15/hour employee costs approximately $18.75–$20.25/hour all-in. Annual costs for a full-time hire at $15/hour total approximately $35,000–$42,000.
No. Bankable does not inquire about or verify the immigration status of your employees. We evaluate your business revenue and operational history. Employee verification is handled through the I-9 process, which is between you and your employees.
We recommend budgeting 6 months of total employee cost as working capital. This gives you time for the new hire to contribute meaningfully to revenue before the payroll burden becomes a strain. A $3,500/month employee hire should be backed by approximately $21,000 in working capital.