Key Takeaways
- Work authorization (EAD) is the only immigration document required by Bankable
- US business entity (LLC or corp) is required — sole proprietorships do not qualify
- Minimum $10,000/month in business revenue (varies by industry)
- 6 months minimum operating history
- Active US business bank account required
Understanding the requirements for asylee business funding in 2026 allows you to assess your eligibility before applying and take any steps needed to qualify. This page breaks down every requirement clearly.
Bankable's Requirements for Asylee Business Funding
| Requirement | Detail | Notes |
|---|---|---|
| Work authorization | Valid EAD or other work auth | EAD C08 (pending), A05 (granted asylum), or other valid category |
| US business entity | LLC or corporation | Registered in any US state; sole proprietorships do not qualify |
| EIN | Employer Identification Number from IRS | Free to obtain at IRS.gov; no immigration restriction |
| Business bank account | US business checking account | In the business entity's name; at least 3 months open |
| Monthly revenue | Minimum $10,000/month | Industry-specific minimums may be higher; see industry pages |
| Operating history | Minimum 6 months | 12 months required for seasonal or expansion capital |
What Does NOT Disqualify You
- Pending asylum case (as long as you have work authorization)
- No prior US credit history
- Foreign-language bank statements (English translation required)
- Business owner with no US employees
- Multiple businesses (each evaluated separately)
What May Reduce Your Offer
- Credit score below 550 (reviewed but not a hard cutoff)
- Business bank account open less than 6 months
- Revenue declining month-over-month
- Industry with high default rates (adult entertainment, gambling)
- Outstanding business tax liens
Industries That Do Not Qualify
Bankable does not fund businesses in: firearms dealing, adult entertainment, cannabis (federally illegal), gambling operations, or businesses primarily engaged in securities trading. All legal business activities in other industries qualify.
Frequently Asked Questions
EAD (work authorization), US business entity (LLC or corp), EIN, US business bank account, $10,000+/month in business revenue, and 6 months of operating history.
Both granted asylees and pending asylum applicants with work authorization qualify. What matters is your EAD, not the status of your case.
No. Bankable requires a formal business entity (LLC or corporation). Sole proprietorships do not qualify. Forming an LLC takes 1-2 weeks and costs $50-$500 depending on your state.
$10,000/month for most businesses. Some industries require higher minimums — see our individual industry pages.
No. Bankable requires at least 6 months of operating history. For 3 months, contact us — in some cases we can evaluate 3-month-old businesses with very strong revenue.
We review personal credit but it is not the primary factor. Revenue is. Scores below 500 may affect terms; scores below 400 may require additional review.
Outstanding tax liens are a disqualifying factor. Resolved tax liens (payment plan in place) may still qualify — contact Bankable to discuss.
You need to be legally authorized to work and operate a business in the US (EAD). Physical residence in the US and legal work authorization are required.