Daily Tip: Don’t let a low credit score hold you back. Improve it!

Credit score

Let’s talk about your credit score. It’s more commonly known as your bureau or CIBIL score in India. 

If you are a first-time borrower, you may not know much about your credit score, so you may not pay too much attention to it.  

Credit bureaus authorised by the RBI prepare a credit report for each individual and commercial borrower in India, and this report includes your score. Your credit score is a 3-digit number that lenders use as an indicator of your creditworthiness. 

It, along with a few other factors, can make or break your business loan application. But the good news is, your bureau score is not a permanent number! If your score is low, you can take action to increase it gradually. 

CreditEnable lenders prefer to lend to SMEs who have a credit/ CIBIL/ bureau score of 750 or above. If your score is lower than that, here are a few things you can do to improve it.

If you already have a healthy score and need an SME loan, apply for one today with CreditEnable!

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