Key Takeaways
- TPS holders with valid EADs are eligible for private business loans through Bankable Funds
- SBA loans are not available to TPS holders; private revenue-based funding is the primary option
- Valid TPS EAD (I-766) is the primary immigration document needed for the application
- Countries with active TPS designations include El Salvador, Honduras, Haiti, Nepal, Nicaragua, and others
- Revenue of $15K/month and 6 months of business history are the primary qualifiers
TPS (Temporary Protected Status) holders with valid EADs can get business loans from private lenders. Bankable Funds welcomes TPS business owners and evaluates applications based on business revenue and operating history. The primary requirement is a valid, unexpired TPS-based Employment Authorization Document (EAD) — the same I-766 card used as work authorization.
Understanding TPS and Business Authority
Temporary Protected Status provides protection from deportation and, critically, the ability to obtain work authorization for nationals from designated countries facing ongoing armed conflict, environmental disasters, or extraordinary conditions. TPS does not provide a path to a green card, but it does provide legal work authorization — which is what private lenders need to see.
TPS holders can: legally work for any US employer, open US bank accounts, obtain EINs, form LLCs and corporations, sign contracts, and apply for private business funding. The temporary nature of TPS status does affect some lenders' risk assessment, but Bankable Funds does not penalize TPS holders solely for the temporary nature of their status.
TPS EAD Renewal and Funding Applications
TPS EADs are renewed in conjunction with TPS redesignations — typically 18-month periods. When applying for business funding with an EAD that is within 6 months of expiration, provide your pending renewal application documentation. USCIS typically provides automatic extension periods during active TPS renewals.
Countries Currently Eligible for TPS (as of March 2026)
TPS designations in effect include nationals from: Afghanistan, Burma (Myanmar), Cameroon, El Salvador, Ethiopia, Haiti, Honduras, Nepal, Nicaragua, Somalia, South Sudan, Sudan, Syria, Ukraine, Venezuela, and Yemen. TPS designations change — verify current status at USCIS.gov.
How TPS Holders Apply at Bankable Funds
The application process is identical to other non-citizen applicants. Complete the Bankability Score assessment, gather your business bank statements, EIN documentation, and current TPS EAD, and submit your application. Decisions are made within 48 hours.
Frequently Asked Questions
TPS status may influence risk assessment due to the temporary and renewable nature of the status. Bankable Funds does not apply an automatic TPS penalty, but the temporary nature of TPS is a factor considered alongside your business revenue, time in business, and revenue trend.
TPS status has faced numerous legal challenges. If your TPS is under challenge but still legally valid, your EAD remains effective and you can apply for business funding. Bankable Funds recommends consulting an immigration attorney if you have questions about your TPS status before applying.
No. TPS holders are not eligible for SBA loan programs under the March 2026 rule or the prior eligibility standards, which required more permanent immigration status. Private lenders are the primary source of business capital for TPS entrepreneurs.
TPS holders are heavily concentrated in construction, landscaping, food service, cleaning services, and childcare. These industries often have strong revenue profiles that qualify well for revenue-based funding. Bankable Funds has significant experience with businesses in these sectors.
Business credit is built through the business entity using its EIN, separate from personal credit or immigration status. Opening business accounts, using net-30 vendor accounts, and maintaining consistent payment history with suppliers builds business credit scores through Dun & Bradstreet, Experian Business, and Equifax Business regardless of personal immigration status.
Several community organizations and immigrant-serving CDFIs have programs specifically for TPS entrepreneurs. The Immigrants Rising organization, CAMINOS Fund, and various local immigrant business centers offer resources. Check with your local immigrant services organization for programs in your area.
If TPS for your home country is terminated, you may need to depart the US or adjust to another status. Your outstanding business loan would remain a legal obligation. Proactive planning with an immigration attorney and your lender is strongly recommended if TPS termination for your country is anticipated.
Yes. TPS holders can co-own businesses with citizens, green card holders, or other non-citizens. The business structure and funding eligibility are based on the business's revenue and all owners' combined profile. Bankable Funds evaluates the business holistically.