ITIN Business Funding: How to Access Capital Without SSN

Running a business in the US with an ITIN presents unique challenges. Most funding sources expect a Social Security Number. Traditional banks often turn away ITIN applicants. The mainstream funding path isn't designed for you.

But funding options exist. Business credit cards, merchant cash advances, microloans, and alternative lenders increasingly serve ITIN holders. With the right strategy, you can access the capital your business needs.

Here's how to fund your business with an ITIN.

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The ITIN Business Funding Landscape

Why Traditional Funding Is Limited

SSN-centric system:

• Most lenders require SSN for underwriting
• Credit bureaus primarily track SSN-linked data
• Automated systems flag ITIN applications
• Banks have less experience with ITIN lending

Perceived risk:

• Less credit history available
• Harder to verify background
• Fewer recovery options for lenders
• Immigration status concerns (often misunderstood)

What's Actually Available

Despite limitations, ITIN holders can access:

• Business credit cards (select issuers)
• Microloans and CDFIs
• Merchant cash advances
• Equipment financing
• Revenue-based financing
• Invoice factoring
• SBA loans (with proper documentation)

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Building a Funding-Ready Business

Establish Strong Business Identity

Before seeking funding, strengthen your business profile.

Essential elements:

• Registered business entity (LLC or Corporation)
• EIN (Employer Identification Number)
• Business bank account (separate from personal)
• Business address (physical, not P.O. Box)
• Business phone number
• Clear revenue documentation

Build Business Credit (Separate from Personal)

Business credit tied to EIN, not ITIN:

1. Get DUNS Number from Dun & Bradstreet
2. Open vendor accounts that report to business bureaus
3. Pay early for maximum score impact
4. Build tradelines over 90+ days

Why this matters: Strong business credit reduces lender reliance on personal credit (and SSN).

Document Revenue Thoroughly

Lenders will scrutinize financials more closely.

Prepare:

• 12-24 months bank statements
• Tax returns (personal and business)
• Profit and loss statements
• Balance sheets
• Cash flow documentation

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Funding Options for ITIN Holders

Business Credit Cards

Most accessible option for ITIN holders.

Cards that may accept ITIN:

Application tips:

• Apply in-branch when possible
• Bring full documentation
• Explain business clearly
• Start with bank where you have accounts

Microloans and CDFIs

Community Development Financial Institutions specifically serve underbanked populations.

Examples:

• Accion
• Grameen America
• Kiva
• LiftFund
• Local community lenders

Typical terms:

• Loan amounts: $500-$50,000
• Interest rates: 8-20%
• Terms: 6 months to 5 years
• Purpose: Working capital, equipment, inventory

Advantages:

• Designed for underserved businesses
• Consider full picture, not just credit
• Provide technical assistance
• More flexible underwriting

Merchant Cash Advances

Based on business revenue, not personal credit.

How it works:

• Lender advances capital
• Repaid through percentage of daily sales
• No fixed payment schedule
• Based on card processing volume

Considerations:

• Higher effective cost (factor rates 1.2-1.5)
• Automatic deductions from sales
• Fast funding (days, not weeks)
• Minimal personal credit requirements

Best for: Businesses with strong, consistent card sales needing quick access.

Revenue-Based Financing

Similar to merchant cash advance but often better terms.

Requirements:

• Consistent monthly revenue ($10,000+)
• Business bank statements
• Some operating history (6+ months)

Terms:

• Advance: 1-3 months revenue
• Repay: Fixed percentage of revenue
• Factor rate: 1.15-1.35

Equipment Financing

The equipment serves as collateral, reducing lender risk.

How it works:

• Purchase equipment through lender
• Equipment serves as security
• Pay monthly over 2-7 years
• Own equipment after payoff

ITIN considerations:

• Equipment value matters more than personal credit
• May still require personal guarantee
• Some lenders ITIN-friendly

Invoice Factoring

Use unpaid invoices to access capital now.

How it works:

• Sell outstanding invoices to factor
• Receive 70-90% immediately
• Factor collects from customers
• Receive remainder minus fees when paid

ITIN-friendly because:

• Customer creditworthiness matters more
• Invoices serve as collateral
• Less personal credit focus

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SBA Loans for ITIN Holders

Can ITIN Holders Get SBA Loans?

Yes, but with requirements.

SBA policy:

• Does not require US citizenship
• Permanent residency not required
• ITIN can be used in place of SSN
• Business must be US-based

Documentation needed:

• Valid ITIN
• Proof of legal US presence (visa, work authorization)
• Business operating legitimately in US
• Standard SBA loan documentation

SBA Loan Options

7(a) Loans:

• Up to $5 million
• Working capital, expansion, equipment
• Longer terms, lower rates
• Requires good credit and collateral

Microloans:

• Up to $50,000
• Through SBA-approved intermediaries
• More flexible than 7(a)
• Technical assistance included

Community Advantage:

• Up to $250,000
• Through mission-focused lenders
• Designed for underserved communities

Finding ITIN-Friendly SBA Lenders

CDFIs often process SBA loans:

• More experience with ITIN applicants
• Mission to serve underbanked
• May provide additional support

Credit unions:

• Often more flexible than banks
• Community-focused
• May have SBA lending programs

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Application Strategy

Prepare Documentation

Personal documents:

• ITIN confirmation letter
• Photo ID
• Proof of address
• Work authorization (if applicable)

Business documents:

• EIN confirmation
• Business registration
• Articles of organization
• Operating agreement (if LLC)
• Business licenses

Financial documents:

• 24 months business bank statements
• 2 years business tax returns
• 2 years personal tax returns
• Profit/loss statement
• Balance sheet

Start with Relationship Banking

Best approach:

1. Open business account at community bank or credit union
2. Build relationship over 6-12 months
3. Maintain healthy balances and activity
4. Apply for credit with that institution

Why this works:

• Bank knows your business
• Transaction history proves revenue
• Relationship reduces perceived risk
• More willing to overlook SSN absence

Apply at Multiple Lenders

Don't put all eggs in one basket:

• Some lenders will decline
• Different lenders have different criteria
• Compare offers from multiple sources
• CDFIs and alternative lenders alongside banks

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Building Toward Larger Funding

Phase 1: Establish Foundation (Months 1-6)

Actions:

• Register business properly
• Get EIN and DUNS Number
• Open business bank account
• Open 3-5 Net-30 vendor accounts
• Build business credit

Phase 2: First Funding (Months 6-12)

Actions:

• Apply for first business credit card
• Consider CDFI microloan
• Build track record of payments
• Continue business credit building

Phase 3: Expand Access (Year 1-2)

Actions:

• Apply for larger credit lines
• Consider SBA microloan
• Add equipment financing if needed
• Continue strengthening profile

Phase 4: Major Funding (Year 2+)

Actions:

• Apply for SBA 7(a) loan
• Access larger credit lines
• Refinance expensive debt
• Leverage strong business credit

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Common Mistakes to Avoid

Mistake 1: Using Personal Funds Instead of Building Credit

Every purchase you make personally is a missed opportunity to build business credit.

Fix: Use business credit for business expenses from day one.

Mistake 2: Applying Everywhere at Once

Multiple applications signal desperation and can trigger denials.

Fix: Research ITIN-friendly lenders first, apply strategically.

Mistake 3: Accepting Any Terms

Desperation leads to bad deals—high rates, unfavorable terms.

Fix: Compare offers, understand true costs, negotiate when possible.

Mistake 4: Not Building Business Credit Separately

Relying only on personal credit limits options.

Fix: Build business credit tied to EIN, independent of ITIN.

Mistake 5: Giving Up After Rejections

One denial doesn't mean all lenders will decline.

Fix: Apply to ITIN-friendly lenders, explain situation, provide documentation.

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Resources for ITIN Business Funding

CDFI Finder

Find local CDFIs:

• www.cdfifund.gov/
• Often specialize in serving ITIN holders
• Provide technical assistance alongside funding

Small Business Development Centers

Free business assistance:

• www.sba.gov/sbdc
• Help with funding applications
• Business plan development
• Financial preparation

SCORE Mentoring

Free mentorship:

• www.score.org
• Experienced business mentors
• Application preparation help

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Your ITIN Business Funding Plan

This Month

• Verify business registration is complete
• Confirm EIN obtained
• Apply for DUNS Number
• Open business bank account (if not done)

Next Quarter

• Open 3-5 Net-30 vendor accounts
• Make purchases and pay early
• Research ITIN-friendly lenders
• Gather all documentation

Within 6 Months

• Build initial business credit profile
• Apply for first business credit card
• Contact local CDFIs
• Consider microloan application

Within 12 Months

• Established business credit
• Multiple credit lines accessible
• Ready for larger funding applications
• Clear path to SBA loan eligibility

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Next Steps

ITIN holders face more obstacles to business funding—but not insurmountable ones. The path is different, not closed.

Focus on building strong business credit separate from your personal profile. Work with lenders who understand ITIN situations. Document your business thoroughly.

With persistence and strategy, you can access the capital your business needs to grow.

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Need help accessing business funding? Freedom Consulting specializes in funding strategies for all business owners, including ITIN holders. Book a free consultation to explore your options.

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Related: ITIN Credit Guide | Business Credit Complete Guide

Disclaimer: Funding availability depends on business qualifications and lender requirements. Immigration status affects some options. Consult with professionals for specific situations.

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Continue Learning

This article is part of our Building Credit with ITIN: The Complete Guide for Non-Citizens guide series.

Related articles in this series:

• ITIN vs SSN: Key Differences and What You Can Do With Each
• Best Banks That Accept ITIN for Account Opening (2025)
• Credit Cards for ITIN Holders: Complete List of Options