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Know the score with your business credit score

Want to get your business credit score in just 60 seconds? Capify can help you with that right here and it won’t affect your credit rating one single ounce. But why should you know the score and what can you do with that information? We have put together a helpful guide so you can know your business credit score inside out.
What is your business credit score?
Essentially your business credit score is a number that tells whether you are a viable SME to be approved for finance or to become a business customer. The score reflects your credit obligations and repayment history with lenders and suppliers. Other factors that come to bear are:

Why is your business credit score relevant?
At some stage your SME is going to need trade credit and finance. When this happens, your business credit score will take centre stage. A strong business credit score signals to lenders, vendors, suppliers and business partners that you are a viable financial bet and likely to repay your dues on time. In short, a good business credit score drastically increases your odds of securing finance when you need it.
 
What should I do with my business credit score?
Your business credit score is a fluid creature. Creditors know this so they generally determine your creditworthiness on a continual basis. This is why it is so important to keep close tabs on your business credit score. If you notice a dip in your credit score, check for errors first and foremost. If you spot one, immediately notify the credit agency who generated your score.
Other ways you can bump up your business credit score are to:

Get your business credit score online right now in just one minute using Capify’s handy online tool. Simply click here. Or if you need some extra funds to make on-time payments and enhance your business credit score, speak to us about our supportive small business loans too.

Or call 1300 760 930 to speak with one of our friendly Lending Consultants now.
 


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