CreditSME is pleased to launch the online CreditSME Borrower Score calculator for businesses. This score out of 100 and based on the company’s high level financials and industry specific factors is designed to give businesses a tool to assess how they will be assessed by prospective lenders.
This score is particularly useful for businesses when they are seeking a new loan or want to know what their business loan options might be. A high score will mean a high chance of business loan approval at attractive interest rates and a lower score will likely mean a non-bank financing alternative may be the best alternative.
The CreditSME Borrower Score aims to remove a major frustration for business owners when they embark on a process to get a new business loan only to be told weeks later that their application has been declined. The CreditSME Borrower Score gives businesses an insight of how they will be assessed by lenders and therefore allows owners to direct their time and resources to a loan process where there is a high degree of confidence of getting funded on the best available terms.
Try the free CreditSME Borrower Score calculator by clicking here.
The more comprehensive CreditSME Borrower Score for your business is also still available by applying here. The more comprehensive Borrower Score takes a number of other data points into consideration including the historical financial statements of the business for a more detailed assessment of the credit profile of a business.