Checking your business credit score is a great idea for a number of important reasons. In the age of credit checks for almost everything you want to buy, including when renting property, your credit score is almost as important as your criminal record. In this article, we unpack a few reasons why a business should know the state of their credit score, three reasons to let a credit bureau check your credit score, and whether or not you can check your business credit score for free or not.
Unfortunately not. Checking your credit score as a business is going to cost a fee of some kind. This is because only specific people, from specific organisations, are given the authority to access credit score information of businesses in South Africa.
As a business, there’s a good chance that you are going to require credit of some kind at certain points in time while operating. You might need a business loan to acquire property for your business. Perhaps you need a company vehicle that you are unable to purchase outright. Maybe you need a loan to import a shipping container of stock from abroad. Checking the credit score of your clients or debtors is also a good way to ensure prompt payment. Regardless of what you need business credit for, checking your business credit score is the first step.
Credit bureaus exist to execute, among other things, business credit score checks. Here are three reasons you should sign up with a credit bureau like Cred-it-data to check your business credit score:
At Cred-it-data, we give you the information to make better business decisions.
We are a registered credit bureau operating under license NCRCB25. Cred-it-data is also a member of the Credit Bureau Association. Contact us today to discuss any personal or business credit checks you may require. We look forward to being of service.
Here’s why you should let us handle all your business credit checking requirements:
➔ Multiple data sources from one portal
➔ Access credit scores anywhere, any time
➔ No subscription or annual fees
➔ Free access for unlimited users
➔ Verification and information gathering
➔ Manage current agreements and policies
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