Company Credit Report (CCR) is a detailed document that describes the financial health and creditworthiness of an enterprise. It displays information related to the creditworthiness and past credit behavior of an enterprise. The Company Credit Report is collated and generated from the enterprise’s credit information that is provided by various banking and financial institutions. It also serves as the primary document that each lender shall access before sanctioning a business/MSME loan or any other credit facility to a business entity.
CIBIL Rank
CIBIL Rank is a summarized version of your Company Credit Report (CCR), wherein a company or MSME is scaled from numeric 1-10. On this numeric scale of 1-10, Rank 1 is considered as best with little to no risk of default, whereas Rank 10 signifies the worst with maximum possibility of default. CIBIL score is calculated and generated for individuals by the Credit Information Companies and has no direct relevance to your CIBIL Rank. Still, you can check your free credit score directly from all the four leading credit bureaus instantly and receive monthly updates.
CIBIL Commercial Report
CIBIL Commercial Report is a summary of credit information on prospective commercial borrowers for lenders to make informed decisions regarding lending money. The list of borrowers may include proprietorships, public and private limited companies, and partnership firms. The CIBIL commercial credit information report offers important credit data related to business requirements, risk scores, and much more. The credit score of an individual, who is also the owner of the company, will not have any correlation with the CCR and neither it shall affect or change it.
Components of Company Credit Report or CIBIL Commercial Report
Your Company Credit Report consists of various key components for lenders to check your company’s creditworthiness, past payment history, CIBIL rank, etc. Find below various such components that build your company’s credit report:
Background Information
The profile section contains all the business background information, such as its parent and subsidiary companies, years of operation, ownership, etc. It also consists of a unique number that is assigned to your business or company by TransUnion CIBIL.
Identification
It is displayed at the top of the report and contains ‘Report Order Number’, which indicates the number of times your report has been accessed from the CIBIL’s database.
Borrower’s Profile
This section is divided into 4 sub-sections, which are as follows:
Borrower’s Details: This subsection includes information on the company’s name, class of activity, legal constitution, etc.
Address and Contact Details:Â Information of registered office and mobile numbers
Identification Details:Â It includes information about the company’s PAN card, registration number, etc.
Delinquencies Reported on the Borrower:Â These include the company’s payment status and the guarantors
CIBIL Rank
This section displays your Company’s CIBIL Rank which ranges from 1-10. with various ranking factors. As mentioned earlier, Rank 1 is considered as best with minimum risk of default for lenders, while Rank 10 with maximum risk of default. Maintain your company’s CIBIL rank to as high as possible to access credit easily for your business.
Credit Profile Summary
It provides information related to all the credit products offered by various lending institutions, such as private or public sector banks, NBFCs, commercial banks, etc.
Enquiry Summary
It displays the number of recent inquiries made by the lenders.
Derogatory Information
It includes information related to defaults, past-due and dishonored cheques, and various other activities resulting in default.
Outstanding Balances
It displays the credit facilities offered by Credit Groups of India, including Overdrafts, working capital loans, term loans, foreign exchange, etc.
Location Details
It contains all the relevant information of all the addresses related to the businesses.
Relationship Details
It showcases the details of businesses related to the firm, name, type, ownership details, PAN information, and contact details.
Credit Facility Details – As a Borrower
It holds the details of the credit facilities used by the business entity. The details include its type, payment status, credit status, past due information, and non-sufficient fund information.
Credit Facility Details – As a Guarantor
It includes the credit entities being backed by the business entity.
Details of Suit Filed
It contains information regarding any lawsuits that any prior lenders to the company entity have brought, if any.
Credit Rating Summary
It includes the corporate entity’s recent three credit ratings, as determined by a renowned and independent credit rating agency in India.
Inquiry Details in the Last 1 Year
Information on recent Inquiries made by lenders to your company’s credit application. This section offers details on credit providers, inquiry amounts and dates, credit categories, etc.
CIBIL Commercial Report Subscription Plans
Find below various subscription plans to monitor your CIBIL Rank and CIBIL Commercial Report to check your company’s creditworthiness and financial stability.
BASIC
Rs. 3,000
For 1 month
@Rs. 3000 per month
One time analysis
STANDARD
Rs. 6,000
For 6 months
@Rs. 1000 per month
Stay updated with your payment history
PREMIUM
Rs. 12,000
For 12 months
@Rs. 1000 per month
Regular monitoring of your Company’s Credit Health
Conclusion:
CIBIL Commercial Report is an essential tool for any enterprise, that is looking forward to establishing healthy business relationships with its partners. Therefore, you can check and choose a subscription plan, as per your business requirements to timely receive updates on your Company’ Credit health and stay updated with the company’s payment history and spending trends. Maintain your CIBIL Rank close to 1 out of 10 to avail of various lending benefits and get funds at ease for your enterprise.
Source: PaisaBazaar
