Key Takeaways
- Bankable application: under 10 minutes
- Decision: within 48 hours of complete document submission
- Funding deposit: 3-5 business days after approval
- Total timeline: 5-7 business days from application to cash in account
- No immigration delays — funding speed depends on business docs, not visa status
Speed matters. Asylee entrepreneurs often come to Bankable in situations where timing is critical — a lease is expiring, a large order needs to be fulfilled, payroll is due on Friday, or equipment failed yesterday. Understanding exactly how fast you can get funded eliminates uncertainty and lets you plan.
The Bankable Funding Timeline
| Step | Timeframe | What Happens |
|---|---|---|
| Application | 10 minutes | Complete the online application with basic business information |
| Document upload | Same day | Upload EAD, bank statements, EIN, business formation docs |
| Review | 24-48 hours | Bankable reviews your bank statements and business information |
| Decision | Within 48 hours | Approval or decline with clear explanation |
| Contract signing | Same day as approval | Digital signature on funding agreement |
| Deposit | 3-5 business days after signing | Funds transferred to your business bank account via ACH |
Factors That Can Speed Up Funding
- Complete document submission on day one (all 5 documents ready to upload)
- Clean, readable bank statements without unexplained large deposits
- An existing Bankable relationship (returning clients are faster)
- Calling Bankable directly for urgent situations: (786) 443-5511
Factors That Can Slow Funding
- Incomplete documents (missing EAD back, incomplete bank statements)
- Unexplained large deposits that require follow-up questions
- Business entity that is not yet active in your state's registry
- Bank accounts opened very recently (less than 3 months)
Comparing Bankable to Other Sources
SBA loans take 30-90 days and are no longer available to asylees. CDFI loans take 2-6 weeks. Traditional bank loans take 4-8 weeks. Bankable's 5-7 day total timeline is the fastest available option for asylee business owners seeking larger amounts ($25K+).
Frequently Asked Questions
With Bankable, the total timeline is 5-7 business days from application to cash in your account. Decision is within 48 hours; deposit is 3-5 days after contract signing.
For genuine emergencies, call Bankable directly at (786) 443-5511. We can sometimes expedite the review process for urgent situations.
Incomplete documents, missing bank statements, unexplained large deposits, or a newly opened business bank account. Have all 5 required documents ready before you apply.
For very small amounts ($500-$5,000), Kiva US provides crowdfunded microloans to asylees with no immigration restrictions. Application takes a few days and funding can arrive within 2-3 weeks.
No. Your EAD is reviewed the same as any other identity document. Immigration status does not add processing time at Bankable.
Yes. The online application is available 24/7. Document review and decisions happen on business days (Monday-Friday).
Approval offers are typically valid for 30 days. If you need more time, contact Bankable.
We prefer at least 3 months of bank statement history. If your account is newer, contact Bankable to discuss your specific situation.