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Undocuhustle
  • Get Started
  • Inspiration
  • All Topics
    • Independent Contracting
    • Starting a Business
    • Finance & Capital
    • Taxes
    • Marketing & Promotion
  • Log In / Sign Up
    • Lost your password?

      Please enter your username or email address. You will receive a link to reset your password via email.

    • Sign Up
    • Create an account to access the interactive worksheets and save all of your information.
    • My Profile
    • My Plans

Finance & Capital

What Lenders Look For

Let’s say you’ve decided to approach a lender about borrowing money so you can grow your business. You can use your Individual Taxpayer Identification Number (ITIN) to build credit and access capital even if you are ineligible for a Social Security Number (SSN). The ITIN is a social security number alternative used by the IRS to account for tax returns and tax payments of resident and non-resident aliens, regardless of immigration status.

Your credit score is a key component in how lenders will assess your eligibility for a loan, but it’s not the only factor. Lenders look at five primary factors:

  • Credit: how likely are you to make payments on time and pay off the loan?
  • Liquidity: do you have assets such as stocks, mutual funds or accounts receivable that you can turn into cash quickly to pay back your loan?
  • Collateral: you might be asked to provide something of value such as real estate, equipment or inventory to back your loan.
  • Capital: what is your income and available cash?
  • Character: how responsible have you been with your past debts?

Link to check your credit score: AnnualCreditReport.com

Founded in 2006, Immigrants Rising transforms individuals and fuels broader changes. With resources and support, undocumented young people are able to get an education, pursue careers, and build a brighter future for themselves and their community.

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