Key Takeaways
- EAD + EIN + 6 months of business bank statements = the core documentation requirement
- Factor rates of 1.15–1.45 apply to revenue-based advances — not traditional interest rates
- 48-hour decision, 3–7 days to funded is the Bankable Funds standard timeline
- DACA, TPS, OPT, H-4 EAD, L-2 EAD, and pending asylum EAD holders all qualify
- The SBA March 2026 rule eliminated government-backed loans; private lending is fully available
This is the most complete FAQ on non-citizen business loans in 2026. If you have a question about business funding as a non-citizen, it's almost certainly answered here.
Eligibility FAQs
Am I eligible for a business loan as a non-citizen?
If you have a valid Employment Authorization Document (EAD) — or a visa with inherent work authorization (H-1B, L-1, O-1, TN, E-1/E-2) — you may be eligible for revenue-based business funding through Bankable Funds. The primary additional requirement is 6+ months of documented business revenue in a business bank account.
Which visa holders are eligible?
EAD holders including: DACA (C33), TPS (A12/C19), pending asylum (C08), adjustment of status (C09), H-4 EAD, L-2 EAD, E-2 EAD, OPT (C03a), STEM OPT, refugee (A03), asylee (A05), and most other EAD categories. Visa holders with inherent work authorization: H-1B, L-1, O-1, TN, E-1, E-2. Call (786) 443-5511 to confirm your specific category.
Can green card holders get business loans?
Yes. Green card (LPR) holders have always been eligible for business financing. Post-March 2026, green card holders are also excluded from SBA programs (the SBA now requires US citizenship), but private lenders like Bankable Funds serve green card holders on the same terms as other work-authorized non-citizens.
Does the business need to be incorporated?
Yes. A formal business entity (LLC or corporation) with an EIN is required. Sole proprietors operating without a formal business entity may have limited options — consult a SBDC or business attorney about forming an LLC as a first step.
Documentation FAQs
What documents do I need?
Primary requirements: (1) valid EAD (front and back copy), (2) EIN documentation (IRS CP 575 or 147C letter), (3) 4–6 months of business bank statements (PDF from your online banking portal). Supplemental (if available): POS reports, customer invoices, contractor licenses. Not required: tax returns, business plan, personal credit report, citizenship documentation.
Can I use an ITIN instead of EIN?
ITINs are personal tax identification numbers. EINs are business tax identification numbers. Bankable requires an EIN for the business — not your personal ITIN. Apply for an EIN free at irs.gov if you don't have one.
Process FAQs
How long does the application take?
Bankability Score check: 5 minutes. Document gathering: 1–2 days. Application submission: 15 minutes. Decision: 48 hours. Total from starting to decision: 3–4 days. Funded: 3–7 days after signing. Start to funded: 5–10 business days for most applicants.
Can I apply by phone?
Yes. Call (786) 443-5511 and a Bankable representative will guide you through the application by phone. Document submission can be arranged by email or fax for phone applicants.
Rates and Terms FAQs
What are the interest rates?
Bankable uses factor rates, not APR interest rates. Factor rate range: 1.15–1.45. Example: $100,000 advance at 1.25 factor rate = $125,000 total repayment. Repayment is a fixed percentage of daily or weekly revenue — typically 6–12% of daily revenue.
What is the term length?
Revenue-based advances have no fixed term. The advance is repaid when the factor amount is paid back. Based on typical revenue levels and repayment percentages, most advances are repaid in 6–18 months.
Post-March 2026 SBA FAQs
Are there any SBA alternatives for non-citizens?
The SBA does not have an exception or alternative program for non-citizens. The March 2026 rule requires US citizenship for all SBA programs. Private alternatives include Bankable Funds ($25K–$750K, 48-hour decisions), CDFIs (6–12%, longer timeline), and equipment financing companies.
Is the March 2026 SBA rule permanent?
As of this writing (March 2026), the rule is in effect. Legal challenges are ongoing. Congress could act to reverse the rule. However, non-citizen business owners should plan for the rule to remain in place indefinitely — private capital is available regardless of the SBA rule's ultimate fate.
Frequently Asked Questions
Yes. Self-employment and business ownership are independent of having an employer sponsor. Your business is your employer for work authorization purposes. An EAD authorizes you to work for any employer, including yourself.
Bankable requires US business bank statements. An international bank account is not accepted as primary revenue documentation. Open a US business bank account immediately.
Your business must be operating in the USA and you must have US work authorization. If you are temporarily outside the US, you can apply remotely — but the business must be generating US revenue and you must be authorized to work in the US.
Yes. Revenue-based advances have no prepayment penalty in most Bankable products. Confirm this in your agreement before signing.
Bankable does not fund: cannabis-related businesses (federal law issues), adult entertainment, weapons manufacturing, lending/financial services companies (own-lender restriction), businesses under active bankruptcy. All standard commercial businesses are potentially eligible.
No. Business funding must be used for business purposes. Using business capital for personal expenses is fraud and violates the funding agreement. Bankable monitors for business use through UCC-1 filings and may audit use of funds for large advances.
Bankable's current maximum is $750,000. For larger capital needs: equipment financing companies may layer additional financing; SBA loans are unavailable; commercial real estate lenders serve property acquisition needs; some private equity firms invest in non-citizen-owned businesses above this threshold.