Understanding your Credit Score
Among the various factors that influence your borrowing capacity as an SME, your business credit score plays an important role in the process. Lenders use this metric to help evaluate your financial standing, ability to repay a loan as well as the amount they are willing to lend.
As a business looking to access credit from a bank or other financial institution, being aware of your credit score can dramatically improve your access to finance. CreditEnable’s Understanding Your Credit Score resources will help you understand your score and implement measures to help strengthen it.
What Goes Into Your Credit Score and Six Ways to Improve It
When you apply for a business loan for your SME, every lender will look into your credit score. Having a good credit score, increases your likelihood of obtaining a business loan. The higher your score, the more leverage you have to negotiate better terms of credit.