Key Takeaways
- 2026 requirement #1: Valid US Social Security Number (SSN)—not ITIN
- 2026 requirement #2: Active federal EIN (Employer Identification Number) for your business
- 2026 requirement #3: 3 months of business bank statements showing $10,000+ monthly deposits
- 2026 requirement #4: Government-issued photo ID (foreign passport accepted)
- 2026 requirement #5: Voided business check for capital wire transfer
Funding requirements for J-1 business owners in 2026 look very different from prior years. The SBA’s March 2026 citizenship rule eliminated government-backed loan requirements from the equation for J-1 holders—there is no SBA business plan to write, no SBA personal financial statement to complete, and no SBA collateral requirement to satisfy. Bankable’s requirements are simpler, focused entirely on your business’s actual performance.
The 5 Requirements to Qualify for Bankable J-1 Funding in 2026
| # | Requirement | Detail | Why It’s Required |
|---|---|---|---|
| 1 | Social Security Number (SSN) | Valid US SSN—not ITIN | IRS identity verification and tax compliance confirmation |
| 2 | Employer Identification Number (EIN) | Active federal business tax ID | Confirms legal business entity registered with IRS |
| 3 | 3 Months Business Bank Statements | $10,000+ monthly average deposits | Primary revenue and cash flow qualification metric |
| 4 | Government-Issued Photo ID | Foreign passport or US state ID | Identity confirmation and fraud prevention |
| 5 | Voided Business Check | Business checking account routing/account numbers | Capital wire transfer destination |
What Is NOT Required in 2026
- Green card or I-551 document
- US citizenship certificate
- SBA eligibility certification
- Business plan or financial projections
- Real estate collateral or appraisal
- US business credit score (minimum)
- Two years of business tax returns
- Accounts receivable aging schedule
- Personal financial statement
- Immigration attorney letter
Revenue Requirements: The Most Important Factor
Your bank statements are the most heavily weighted factor in Bankable’s 2026 underwriting. Here’s what we look for in your 3 months of statements:
- Average monthly deposits: Must exceed $10,000 averaged over 3 months
- Consistency: Prefer steady deposits over single large one-time deposits
- Account health: Minimal NSF fees, no overdrafts, positive ending balances
- Business account: Must be a dedicated business checking account, not personal
- Account ownership: Account must be registered to your business entity (LLC/Corp), not personally
Start the 2026 requirements process with your Bankability Score. Compare requirements across all J-1 capital sources in our 2026 alternatives guide.
J-1-Specific Requirement: SSN vs. ITIN
J-1 visa holders are eligible for Social Security Numbers and should have obtained one during their exchange program or through qualifying employment. Bankable strongly prefers SSN-based applications because SSNs allow instant IRS identity verification. ITIN (Individual Taxpayer Identification Number)—issued to those without SSN eligibility—creates additional verification steps and may slow or complicate the application. If you have an ITIN only, contact Bankable’s team at (786) 443-5511 to discuss your specific situation before applying.
Frequently Asked Questions
$10,000 average monthly deposits over the 3-month bank statement period. This is not a hard cutoff—businesses with $9,500 average but strong consistency and growth trajectory may still qualify. Businesses consistently below $8,000 monthly typically do not qualify.
You need a US business bank account. Capital is wired to and repayment collected from a US business checking account. Foreign bank accounts are not accepted for Bankable’s program.
Your SSN is the critical identity document for Bankable—it is required. Your J-1 status documentation is not required (we don’t ask for your DS-2019 or visa stamp). Your SSN is what matters.
If your EIN is less than 3 months old, your business doesn’t yet have the required operating history. Wait until you have 3 months of business bank statements showing $10K+ monthly deposits before applying.
No. Profitability is not a Bankable requirement. We evaluate gross deposits (revenue), not net profit. A business with high revenue and high expenses (but not yet consistently profitable) can qualify if bank deposits meet the threshold.
No. Personal account statements are not accepted, even if your business revenue flows through them. You must have a dedicated business checking account. If you don’t have one, open a business checking account and operate it for 3 months before applying.
The core requirements (SSN, EIN, 3 months at $10K+) are the same for all industries. Some industries may have slightly different underwriting considerations (healthcare businesses may need to demonstrate compliance, food businesses may need health permits), but these are supplemental, not substitute requirements.
The SSN of the primary controlling owner (typically 51%+ ownership stake) is required. If you are a minority owner applying for funding, the majority owner’s SSN and involvement are part of the application.
Tax returns are not required for initial Bankable applications. However, the existence of an active EIN implies a business registered with the IRS. If your business has EIN but has never filed any returns, this may create questions that our underwriting team will address during review.
Bankable’s requirements are essentially the same as prior years. The major change in 2026 is external—the SBA eliminated J-1 access, which dramatically increased demand for Bankable’s program. The requirements for qualifying: SSN, EIN, revenue history—remain unchanged.