Key Takeaways
- Core documents: EAD, 3-6 months bank statements, EIN, business entity registration
- No tax returns required for advances under $250K
- No collateral documentation required for revenue-based funding
- Documents can be submitted digitally — no in-person visit required
- 48-hour decision after documents are received
One of the most common concerns asylee entrepreneurs have about applying for business funding is documentation. Will they need to provide immigration paperwork that could complicate the application? Will they need tax returns for years when they may not have filed? Will they need to explain their immigration history? The answer to all of these is: no, no, and no. Bankable's documentation requirements are focused entirely on your business.
Required Documents for Bankable Funding
| Document | Purpose | Notes |
|---|---|---|
| EAD card (or valid work auth) | Verify work authorization | Front and back photo; any valid EAD accepted |
| Business bank statements (3-6 months) | Verify revenue and cash flow | Most recent statements; all business accounts |
| EIN confirmation letter | Verify business tax ID | IRS CP-575 letter or online EIN confirmation |
| Business formation documents | Verify US entity existence | LLC operating agreement or articles of incorporation |
| Voided business check | Verify bank account for deposit | Or bank-issued direct deposit form |
What You Do NOT Need
- Tax returns (not required for advances under $250K)
- Personal financial statements
- Collateral documentation (for revenue-based funding)
- Business plan
- Immigration court documents or asylum case records
- Explanation of your immigration history
- Green card or permanent residence documents
For Larger Advances ($250K-$5M)
For larger funding amounts, Bankable may request 2 years of business tax returns, a profit and loss statement, and a balance sheet. These help us understand the business's full financial picture for larger exposures. Even at these amounts, your immigration status documentation does not change — only the EAD is required.
Submitting Documents
All documents can be submitted digitally through Bankable's secure online portal. No in-person visit is required. Documents are encrypted with 256-bit SSL and handled with bank-grade security protocols.
Frequently Asked Questions
EAD card, 3-6 months of business bank statements, EIN confirmation, business formation documents (LLC or corporation), and a voided business check. That's it for amounts under $250K.
No. Your asylum case records, immigration court documents, and immigration history are not required and are not reviewed by Bankable.
Not for advances under $250K. For larger amounts ($250K-$5M), 2 years of business tax returns may be requested.
Yes. All documents are submitted through Bankable's secure online portal. No in-person visit is required.
Your business must have a US business bank account with US dollar deposits. Statements should be in English. If your bank provides statements in Spanish or another language, we may be able to work with translated statements.
Bankable accepts all EAD category codes that grant work authorization. Common asylee EAD codes include C08 (pending asylum, 180 day rule) and A05 (granted asylum). Any valid EAD that grants employment authorization qualifies.
Contact Bankable directly. An expired EAD with a pending renewal (especially with an automatic extension notice from USCIS) may still qualify. Active work authorization at funding is required.
Typically 24-48 hours after all required documents are submitted.