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Very often, we come across a CIBIL credit score for individuals, but if you are running a business or firm, the tables of CIBIL are all-round different. For individuals, CIBIL generates a credit score along with a credit information report (CIR). For commercial borrowers such as corporations and firms, CIBIL generates a company credit report or a CCR.
Just as a CIBIL score denotes the creditworthiness of an individual, a CIBIL commercial report highlights the creditworthiness of a business. Thus, a CIBIL commercial report is a comprehensive statement which represents the financial health of an organisation with respect to the information received from the banks and financial institutions. This detailed report is further extensively utilised in determining the creditworthiness of a company when they require a commercial loan.
A CIBIL commercial report comprises of the following information:
You can get your Company Commercial Report from the official website of CIBIL. However, it must be noted that you require a paid subscription fee of ₹3,000 to access your CCR. Mentioned below are the steps.
How is a CIBIL rank different from a CIBIL score?
The primary difference between the two is that a CIBIL rank is assigned to a business while a CIBIL score is assigned to an individual. The former ranges between 1 to 10 where 1 is considered as the best rank for availing a commercial loan. The latter ranges between 300-900 where any number closer to 900 is considered as a good credit score.
What is a Company Commercial Report?
A company commercial report or a company credit report (CCR) is a document which denotes the creditworthiness of a company as a whole. It is issued by CIBIL and other credit rating agencies in order to determine the payback potential of various corporations across India.
Which number is used to track a company’s credit history?
A DUNS number is a unique number by which you can track the credit history of your company.
What is a ‘Write Off?
As per the bank’s rules and regulations, a write off means that a particular loan was never recovered. This means that the bank has been unable to track the borrower or the borrower has failed to pay the amount.