Key Takeaways
- Consistent monthly revenue (typically $15,000+/month) is the single most important qualification factor
- Valid work authorization (EAD) is required — the type of EAD matters less than its validity
- 6+ months of business bank account history is the standard minimum for most private lenders
- Business EIN (not personal ITIN) is required to identify the business entity
- Existing debt obligations and UCC liens are reviewed — excessive stacking is a disqualifier
Private lenders like Bankable Funds evaluate non-citizen business loan applications on business fundamentals — not citizenship. Understanding exactly what lenders look for helps non-citizen entrepreneurs prepare stronger applications and understand why certain applications are approved or declined.
Factor 1: Business Revenue — The Primary Criterion
Revenue is the single most important factor in a non-citizen business loan application. Private lenders using revenue-based underwriting care about:
- Monthly revenue level: Most private lenders require $10,000–$20,000 minimum monthly revenue. Bankable's threshold is typically $15,000+/month
- Revenue consistency: Lenders prefer consistent monthly revenue over highly erratic patterns. Seasonal businesses must demonstrate clear seasonal patterns, not chaotic volatility
- Revenue trend: Growing revenue is more favorable than declining or flat revenue. A business growing 10%+ month-over-month is a strong candidate
- Revenue concentration: Heavy dependence on one client (more than 50% of revenue) is a risk factor — losing that client would severely impact repayment
Factor 2: Work Authorization (EAD)
Valid work authorization is required. Lenders check:
- EAD expiration date — must be valid at time of application and ideally for several months beyond funding
- EAD category — indicates what type of status the holder has. Most EAD categories are acceptable
- EAD photo match — verification that the EAD belongs to the applicant
If your EAD is expiring soon, renew it before applying. An expired EAD at any point during the advance period creates complications.
Factor 3: Business Bank Account History
Bank statements are the primary evidence of revenue and business legitimacy. Lenders look for:
- Business name on the account (must match your LLC/corporation name)
- EIN associated with the account
- 6+ months of continuous activity
- Regular revenue deposits (consistent with the business type)
- No systematic overdrafts (occasional are acceptable)
- No evidence of account closure or bank restrictions
Factor 4: Time in Business
Most private lenders require a minimum of 6 months of business operation. Lenders look at:
- Business formation date vs. application date
- When meaningful revenue began (some businesses form but don't generate revenue for several months)
- Consistency between stated time in business and bank statement history
Factor 5: Industry and Business Type
Some industries are considered higher risk than others. Factors lenders consider:
- Industry recession risk (restaurants declined severely in COVID; this history is noted)
- Revenue predictability (recurring contracts are more predictable than project-based revenue)
- Regulatory risk (cannabis, financial services, adult entertainment have additional compliance considerations)
- Seasonal patterns (seasonal revenue is acceptable; extreme seasonality requires careful structuring)
Factor 6: Existing Debt (UCC Liens)
Lenders review UCC (Uniform Commercial Code) lien databases to identify existing business debt obligations. Specifically, lenders look for:
- Multiple simultaneous advance providers (MCA stacking) — a major red flag
- Large existing obligations relative to revenue
- UCC liens that would prevent the new lender from securing a first or acceptable position
What Lenders Do NOT Look For (in Private Lending)
- US citizenship or birth certificate
- Green card or permanent residency
- SBA eligibility
- Business plan or financial projections
- Tax returns (for most products)
- High personal credit score (not the primary factor)
Frequently Asked Questions
Yes. The most impactful improvements: (1) increase monthly revenue deposited in your business bank account, (2) ensure 6+ continuous months of bank history, (3) reduce existing debt obligations before adding new ones, (4) renew your EAD before it expires. These four factors cover most application weak points.
Business bank statement revenue is the primary underwriting factor at Bankable. Personal credit is considered but is not the primary criterion. Non-citizens with limited US credit history are not automatically declined — the business revenue drives the decision.
Bankable may verify that your business is licensed for the work it performs (contractor license, food service permit, etc.). Operating an unlicensed business in a regulated industry is a red flag. Ensure your business has required permits and licenses before applying.
Applications are submitted for a single business entity. Revenue from a second business (different EIN) is not automatically combinable. In some cases, Bankable may consider revenue from related businesses under common ownership, but this is evaluated case-by-case.
Bankable primarily reviews business bank statements. In some cases, particularly for smaller businesses, your personal bank account history may supplement business bank statement review. Provide personal bank statements only if specifically requested.
Occasional NSF/overdraft is generally acceptable if the pattern is non-systematic. Multiple NSF events in consecutive months suggest cash flow instability and may negatively impact your evaluation. A clear explanation of unusual items on your bank statement is always helpful.
Most revenue-based lenders advance 100–200% of monthly gross revenue. A business with $50,000 monthly revenue might receive a $50,000–$100,000 advance. Higher advances relative to revenue require demonstrated strong repayment capacity and business history.