You know that there is a credit score for an individual but do you have any question in mind then what about business or company? The answer is here. The Company or businesses have CIBIL Rank.
I know you have another question in mind… Am I right? Apoorvaa is giving you answers to all your questions here. The CIBIL rank summarizes your Company Credit Report in the form of one number.
Just as individuals are given a CIBIL Score ranging from 300–900, Companies are assigned CIBIL Rank ranging from 1 to 10 where 1 is best and 10 is worst. However, a CIBIL Rank between 4 and 1 is considered good by most financial institutions.
Most importantly, CIBIL Rank is an indication of a Company’s creditworthiness.
The rank is now available for companies with current credit exposure of up to Rs. 50 crores. Please note that non availability of CIBIL rank is not a negative thing.
The major parameters that are used to calculate the CIBIL Rank are
- a) Past Re–Payment Behavior
- b) Credit Utilization
So not only individuals but also companies or businesses have to be aware about their finances. Apoorvaa is expert in handling the individual credit issue and company credit issue.