Understanding Your Credit Score.
Among the various factors that influence your borrowing capacity as an SME, your business credit score plays an important role in the process. Lenders use this metric to help evaluate your financial standing, ability to repay a loan as well as the amount they are willing to lend.
As a business looking to access credit from a bank or other financial institution, being aware of your credit score can dramatically improve your access to finance. CreditEnable’s Understanding Your Credit Score resources will help you understand your score and implement measures to help strengthen it.
What is Experian and Why Do They Have Access to my Financial History?
From our experience helping thousands of Indian SMEs get business loans, we have realised that many business owners use ‘CIBIL’ and ‘credit score’ interchangeably. CIBIL is a credit bureau that assigns credit scores to individuals and businesses in India, but it is not the only credit bureau that is licensed to do so. Your credit…
How Does My Personal Credit Score Impact my Business Credit Score?
When you apply for a business loan, as part of the application review process, lenders assess your credit report in addition to your personal and business KYC documents. When we help SMEs get business loans, two questions we’re almost always asked are “what information is in my business credit report?” and “my personal score doesn’t…
How to Improve Your Credit Score and Your Chances of Getting a Business Loan?
In India, when someone talks about their CIBIL, they are talking about their credit score. TransUnion Credit Information Bureau (India) Limited (CIBIL for short) is just one Credit Bureau in India that is authorized by the Reserve Bank of India (RBI) to collect and analyse credit-related data of an entity or individual. The other three…
Business Credit Reports: How to Maintain a Good Credit Report?
In our previous blogs, we talked about why your business credit report is important and how to read your credit report like a lender. Now let’s talk about how you can improve your CCR to ensure you qualify for the loan you need at the right terms and ROI. Always pay your loan EMIs and…
Business Credit Reports: How to Read Them
Ever gone through your own Business Credit Report and wondered how to make sense of it? Here we’ve broken down what a Commercial Credit Report (CCR) is and why it’s important. Now let’s help you understand your CCR just like a lender would before approving or rejecting your business loan application. Here is a sample…
Why Should I Check My Credit Score Regularly?
At CreditEnable, we get this question a lot. Most people don’t understand the great impact their credit score has on their creditworthiness, i.e., their ability to get a loan. So, we answered it. What does your credit score mean for you? Your credit score says a lot about you, including your track record with credit,…
Your Business Credit Report: Why it’s important; What’s in It; and Why You Need to Care About it
Ever wondered why your business credit report plays such a big role in determining your creditworthiness for lenders? Just like every individual has a personal credit score, every business also has a credit score. Your business credit report or Commercial Credit Report (CCR) is based on information provided by many lending institutions across India and…
What Goes Into Your Credit Score and Six Ways to Improve It
When you apply for a business loan for your SME, every lender will look into your credit score. Having a good credit score, increases your likelihood of obtaining a business loan. The higher your score, the more leverage you have to negotiate better terms of credit. What is a Credit Score? A credit score is…
