Let’s talk about your credit score. It’s more commonly known as your bureau or CIBIL score in India.
If you are a first-time borrower, you may not know much about your credit score, so you may not pay too much attention to it.
Credit bureaus authorised by the RBI prepare a credit report for each individual and commercial borrower in India, and this report includes your score. Your credit score is a 3-digit number that lenders use as an indicator of your creditworthiness.
It, along with a few other factors, can make or break your business loan application. But the good news is, your bureau score is not a permanent number! If your score is low, you can take action to increase it gradually.
CreditEnable lenders prefer to lend to SMEs who have a credit/ CIBIL/ bureau score of 750 or above. If your score is lower than that, here are a few things you can do to improve it.
If you already have a healthy score and need an SME loan, apply for one today with CreditEnable!
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