The company credit score is a numeric representation of the credit history of a company which helps businesses easily avail bank loans and trade credit from various financial institutions. The company credit report (CRR) is generally compiled by various business credit rating agencies like Experian, Equifax, FICO and Dun & Bradstreet. CRR is also known as the business credit score, applicable to all kinds of business entities like a private limited company, public limited company, partnership firms and proprietorship businesses.
The CRR contains the company background information (parent and subsidiary companies, ownership, years of operation), CIBIL rank, financial information and financial history.
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Outlined below are the salient features of a company credit report:
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The company credit report is a summary of the repayment history of an organisation or a company. The information in the credit report is based on the credit information passed on by the banks, housing finance companies, NBFCs and credit card companies to the credit information bureaus.
A company seeking a business loan from banks and credit institutions must have a good company credit report (CRR). The credit institutions evaluate the borrower on certain important parameters like CRR, repayment capacity, gross profit and so on.
The credit institutions use the CRR to make informed and effective lending decisions by evaluating the following parameters:
See Also: What Is Credit Score?
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