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Loans and credits are lifelines for thousands of businesses and enterprises in the Indian economic ecosystems. Just like individuals, business entities and proprietorships need to prove good financial health to make feasible the much-required credit line from banks and non-banking financial institutions. Company Credit Report is the proof of the creditworthiness of an enterprise just like the CIBIL score shows the creditworthiness of an individual.
You need to fill out the request form by visiting the CIBIL website and pay Rs.3000 to get the CCR for your enterprise. Website- www.cibil.com/online/Company-credit-report.do
You will get unique Registration ID and Transaction ID which will be mailed to your email ID.
Upload KYC documents.
After this, your CCR and CIBIL Rank will be delivered to you at the earliest.
Disputes related to CCR
You are entitled to raising a dispute request on your enterprise CCR. The following disputes could be raised:
The CIBIL company credit report is an expansive document that represents the financial health of an enterprise. This report is collated from information gathered from a variety of banking institutes. Lenders use this report to calculate the creditworthiness of enterprise.
In today’s competitive age, any market enterprise would require the guarantee of funds and resources to survive the various ups, downs and inertia problems. It could be bidding for a tender or a business contract’s initial payment, in any situation an enterprise requires credit. For this, the company requires to show its credit worthiness to the concerned lender. The Company Credit Report holds the important distinction of doing so. Kindly note, that as the owner of the enterprise, your personal credit score does not positively or negatively affect your Company credit report.
A typical CCR will consist of the following:
Like all credit reports, a CCR can be unhealthy due to various reasons:
Resulting from a thorough investigation of your company information and history, your CCR is influenced by the following:
1- Credit History Length – Much like the credit report of an individual, the CCR is positive towards a long credit history.
2- Credit Utilization Ratio – High utilization means more credit hunger on part of your enterprise. Hence, lower credit worthiness.
3- Repayment – Nothing like timeliness in the repayment of the loaned amount.
4- Size and Age of Enterprise – An enterprise which is old with consistent growth is more likely to find favour with the credit bureaus.
5- Industry – The ecosystem of your industry also decides the creditworthiness of your credit demand. Especially, if your operation belongs to an industry which has many ups and downs.
How are individual CIBIL reports different from company credit reports?
The credit report of an enterprise is not about an individual owning or working for the enterprise. Rather, it is the creditworthiness estimation of the enterprise.
What does DUNS number specify?
DUNS is a unique number given to each company that helps track its credit history.
What is the minimum CCR required by a company to get a loan?
A minimum CCR score of 4 is required for a loan.
Who can get access to Company Credit Reports?
What is the key difference between CIBIL rank and CIBIL score?
CIBIL rank is applicable only on companies and it summarises the CCR in the form of a single digit that ranges between 1 and 10. It is assigned only to those enterprises that have taken a loan ranging between Rs. 10 lakh and Rs.10 Crore. On the other hand, the CIBIL score is applicable to individual consumers and ranges between 300 and 900.
What to do if I want to correct any errors on my CCR?
You are entitled to raising a dispute request on enterprise CCR.