Business Working Capital Loan Options for Green Card Holders

 

 

 

As of March 2026, the U.S. government has implemented a policy change restricting SBA business loan eligibility to U.S. citizens only. In addition, due to recent global economic conditions, expectations for Federal Reserve rate cuts have been delayed, and mortgage interest rates are trending upward.  Given the uncertainty of the future economy, it is important to plan your finances in advance.

 

Today, we will introduce various business financing and loan programs available to Green Card holders.  With over 10 years of experience, we provide a wide range of financial solutions along with free consultations and no-obligation pre-approvals.

 

 

 

 

1. Bank Business Line of Credit

 

• • • • • Up to $250,000
        • Revolving line of credit
          → Borrow, repay, and reuse funds as needed (similar to a credit card)
        • Mostly unsecured; UCC-1 filing may be required depending on the bank
        • One application allows pre-approval from multiple banks
        • One or multiple approval options available
        • Interest rate: Prime + margin (1–5%) → approx. 8%–12%
        • Interest-only monthly payments available
        • Use only the amount you need
        • Faster and simpler funding than SBA (approx. 3–5 weeks)

 

 

Qualifications:

• • • • • Green card holders or U.S. citizens
        • Credit score 700+

 

 

Benefits:

• • • • • Reusable credit after repayment
        • One-time fee after closing
        • Soft credit pull for pre-approval (no impact on credit)

 

 

Required Documents:

• • • • • Most recent business tax return OR P&L and balance sheet + prior year tax return
        • Last 3 months business bank statements
        • Driver’s license
        • Application
        • Additional documents may be required depending on the bank
          (personal tax returns, debt schedule, etc.)

 

 

👉 Learn more: Business Line of Credit

 

 

 

 

 

2. Bank Business Term Loan

 

• • • • • Fixed loan with monthly principal and interest payments
        • Term: 2 to 10 years
        • Interest rate: 8%–20%
        • Credit score: 640+
        • One-time fee after closing
        • Available to green card holders and U.S. citizens
        • Faster than SBA: approx. 3–5 weeks

 

 

Required Documents:

• • • • • Last 12 months business bank statements
        • Last 2 years business tax returns
        • Last 1 year personal tax return
        • Debt schedule

 

 

👉 Learn more: Business Term Loan

 

 

 

 

 

3. Short-Term Loan (Non-Bank Working Capital)

 

• • • • • Fast and simple process
        • Approval: 1–2 days
        • Funding: 1–3 days
        • Term: 6–24 months
        • Loan amount: $5,000 – $2,000,000

 

 

Features:

• • • • • High approval rate (approx. 85%)
        • Unsecured (UCC-1 may apply)
        • Eligible for refinancing after 50% repayment
        • Interest is tax-deductible
        • Available for lower credit scores
        • Opportunity to build business credit
        • Soft credit pull (no impact upon approval)
        • Available for green card holders, U.S. citizens, and in some cases non-residents

 

 

Required Documents:

• • • • • Last 4–6 months business bank statements
        • Application
        • Additional documents may be required depending on the case

 

 

👉 Learn more: Fast & Simple Short-Term Loan

 

 

 

 

 

4. Real Estate Refinance

Available when sufficient equity exists in residential or commercial property.

 

 

Main purposes:

 

 

A. Lower Interest Rate (Rate & Term Refinance)
→ Replace with a lower rate to reduce monthly payments

 

 

B. Reduce Monthly Payments
→ Consolidate first and second mortgages into one

 

 

C. Cash-Out Refinance
→ Convert home equity into cash
Example: Home value $800,000 / Loan $400,000 → $100,000 cash-out

 

 

D. Change Loan Terms (Term Change)
→ Shorten term (30 → 15 years) or switch ARM to fixed

 

 

E. Title Change
→ Add/remove borrower due to divorce, inheritance, etc.

 

 

👉 Learn more: Home Refinance / Investment Property Loans

 

 

 

 

5. Home Equity (HELoan / HELOC)

 

Two ways to access equity:

• • • • • Home Equity Loan (HELoan): Lump-sum loan
        • Home Equity Line of Credit (HELOC): Revolving credit line

 

Benefits:

• • • • • Lower rates than unsecured loans
        • Flexible use: business funding, home improvement, tuition, debt consolidation

 

 

Requirements:

• • • • • Sufficient home equity
        • Based on credit, income, and debt-to-income ratio

 

 

Income Verification Options:

• • • • • Tax returns
        • Self-employed / 1099: bank statements (12–24 months) or P&L / balance sheet
        • Rental properties: rental income may be used without tax returns
        • No-income verification programs available (higher rates apply)

 

👉 Learn more: Home Equity Loans

 

 

 

 

 

 

 

 

 

 

Terry Kwon

Contact: (631) 624-4480

Email: terry@milestonepointinc.com

 

Funding Director at Milestone Point, Inc.

Licensed Mortgage Originator at Loan Factory

NMLS #2620208

Loan Factory NMLS #320841