High-speed rotating system development has drawn considerable attention of the researchers, in the recent past. Foil bearings are one of the major contenders for such applications, particularly for high speed and low load rotating systems. In foil bearings, process fluid or air is used as the working medium and no additional lubricant is required. It is known from the published literature that the load capacity of foil bearings depend on the operating speed, viscosity of the medium, clearance, and stiffness of the foil apart from the geometric dimensions of the bearing. In case of foil bearing with given dimensions, clearance governs the magnitude of pressure developed, whereas stiffness dictates the change in radial clearance under the generated pressure. This article deals with the effect of stiffness, clearance, and its interaction on the bump foil bearings load-carrying capacity. For this study, four sets of foil bearings of the same geometry with two levels of stiffness and clearance values are fabricated. Experiments are carried out following two factor-two level factorial design approach under constant load and in each case, the lift-off speed is measured. The experimental output is analyzed using statistical techniques to evaluate the influence of parameters under consideration. The results indicate that clearance has the maximum influence on the lift-off speed/ load-carrying capacity, followed by interaction effect and stiffness. A regression model is developed based on the experimental values and model is validated using error analysis technique.