Daily Tip: You may qualify for an SME loan if your credit score is minus one

minus one

Have you ever heard of a minus one (-1) credit score and wondered what it means?

First-time borrowers, who don’t have any credit history in India, have a minus one (-1) credit score. 

Through this score, credit bureaus are telling a lender they have no record of this borrower, and they cannot assign a 3-figure credit score for this borrower yet. So, if you’ve never taken out a formal loan or opened a credit card account with a lender, your credit score may be -1. 

But don’t worry! A minus one credit score doesn’t mean you can’t get a business loan and some CreditEnable lender partners still lend to SMEs with such credit scores as long as you meet all the other eligibility criteria. 

Learn more here. 

Start your business loan application today and get your hassle-free, 100% digital loan in just a few days. Apply now!

Business Loans. Enabled Simply.