Key Takeaways
- Start by assessing your Bankability Score to understand your current funding eligibility
- Build 6 months of documented business bank account revenue before applying
- Choose the right product: working capital, equipment financing, or revenue-based funding
- Gather EAD, EIN, and 4–6 months of bank statements before starting the application
- Revenue-based funding from Bankable can be renewed as your business grows
This is the complete guide to business funding for non-citizens in 2026 — after the March SBA rule change that eliminated SBA loan access for non-citizens. Follow these steps to access $25,000–$750,000 in business capital through private revenue-based funding.
Phase 1: Assess Your Current Eligibility
Step 1: Verify Your Work Authorization
Bankable Funds requires valid work authorization. Check that you have a current, unexpired Employment Authorization Document (EAD) — Form I-766. Your EAD must be valid at the time of application. Common EAD categories accepted:
- Category A12 (TPS)
- Category C19/A18 (DACA)
- Category A03 (Refugee)
- Category C08 (Asylum applicant)
- Category C09 (Adjustment of status)
- H-4 EAD, L-2 EAD, E-1/E-2 EAD
- OPT EAD (F-1 students)
Step 2: Check Your Business History
Bankable requires a minimum of 6 months of active business operation. "Active" means documented revenue in your business bank account. If you're under 6 months, continue operating and apply when you reach the threshold.
Step 3: Review Your Monthly Revenue
Calculate your average monthly revenue over the past 6 months using your business bank statements. Most Bankable products require $15,000–$20,000+ monthly revenue. Lower revenue businesses may qualify for smaller working capital products.
Phase 2: Build Your Documentation Package
Step 4: Organize Your Business Bank Statements
Download 6 months of business bank statements from your online banking portal. Ensure they show:
- Business name matching your LLC/corporation name
- EIN (or "tax ID") on the account
- Regular revenue deposits (ideally labeled by source)
- Account balance history
Step 5: Gather Your EAD and EIN Documents
- EAD: Front and back copy of current EAD card
- EIN: IRS EIN confirmation letter (CP 575 or 147C letter) or any official document showing your EIN
Step 6: Prepare Revenue Documentation
Depending on your business type, prepare supplemental revenue documentation:
- Restaurants: POS reports (Square, Toast, Clover), merchant processing statements
- Construction: Contract invoices, customer payment confirmations
- Service businesses: Client invoices, recurring payment records
- Retail: POS reports, inventory purchase history
- Trucking: Dispatch records, factoring settlement statements
Phase 3: Choose the Right Funding Product
Step 7: Match Product to Need
| Need | Best Product | Notes |
|---|---|---|
| Working capital, inventory, payroll | Revenue-based advance | Fast; repaid as % of revenue |
| Equipment purchase | Equipment financing | Equipment as collateral; lower cost |
| Flexible draw/repay access | Business line of credit | Draw as needed; pay interest only on balance |
| Business acquisition | Revenue-based + equipment combo | Evaluate acquired business revenue |
Phase 4: Apply and Receive Funding
Step 8: Submit Your Application
Apply at bankablefunds.com or call (786) 443-5511. Complete the 10–15 minute online application and upload your documents. Applications received by 3 PM EST typically receive same-day acknowledgment.
Step 9: Respond to Underwriting Requests
Respond promptly to any requests for clarification or additional documentation. Delayed responses extend the decision timeline beyond 48 hours.
Step 10: Review and Sign Your Agreement
Read your agreement carefully. Key terms to understand: advance amount, factor rate, repayment percentage, estimated repayment timeline, and UCC-1 filing details. Ask questions before signing.
Step 11: Receive Funds
Funds are wired to your business bank account 1–3 business days after signing. ACH transfers may take 3–5 business days. Confirm your bank routing and account number are correct on your application.
Phase 5: Manage and Renew
Step 12: Track Repayment Progress
Monitor your repayment through Bankable's client portal. After approximately 60% repayment, you may become eligible for a renewal advance. Growing businesses often increase their advance amount at renewal as revenue grows.
Frequently Asked Questions
You need 6 months of documented business revenue before applying. Form your business, open a business bank account, and begin depositing all business revenue into that account from day one. At 6 months, apply.
Irregular revenue doesn't automatically disqualify you. Bankable looks at 6-month averages and understands seasonal businesses. If your revenue has a clear seasonal pattern, document the pattern and explain it. Trend matters — growing revenue is more favorable than flat or declining revenue even if individual months vary.
Request the amount you have a specific plan to use. Larger advances have the same factor rate but require more revenue to repay. Requesting substantially more than your plan requires wastes repayment capacity and extends your total repayment period. Ask for what your business plan specifically needs.
Bankable generally does not stack multiple advances simultaneously. Renew after significant paydown of your current advance. If you need a larger total amount, discuss this with Bankable's underwriting team before applying.
Ask for the specific reason for rejection. Common reasons: insufficient monthly revenue, less than 6 months in business, EAD expired or missing, insufficient bank statement history. Address the specific issue and reapply when the condition is corrected.
Bankable's initial Bankability Score check is a soft pull that does not affect your credit. A formal application may involve a hard pull for certain products. Clarify the credit pull type before submitting a full application.
Revenue-based funding typically has no prepayment penalty — if you pay off the advance faster (due to higher revenue), you simply finish repayment earlier. Confirm this in your specific agreement before signing.