Applicant own a business/ no job/ no credit history

[Luke H.]

Hello all, 

An applicant has explained that she has no credit (not bad credit), she and her husband started a business 6 months ago so they don't have tax returns.  I'm trying to figure out what to do with this since I'm not sure how they can prove they are making 3x earnings or have steady income. What do you guys suggest here?  If I turn them down is it just a simple there is no way to prove 3 times earnings so we can't process the application?

In Houston we seem to have many foreigners who have 'cash' paying jobs and not much documentation in terms of Social Security number, credit history, work history, references.

I just repainted the interior, new carpet, new mini-blinds, detailed cleaning, and I don't want to have to redo this in 1 year.

Thanks again for insight.

[Deanna McCormick]

They would still have tax return if they are legal.. if it relates to their current business or not they filed taxes last year.. 

Some Businesses do quarterly reports.

If they pass the credit part of the application.. then I would consider to look or review or ask for tax returns.. ...

Even business have credit issues to get financing / inventory they have to submit records for a credit report.. 

Or ask huge deposit.

Or move on to next applicant.. unable to verify earning / income.