CIBIL Commercial Report emphasises a business entity’s lending value and comprises the firm’s creditworthiness and financial health. CIBIL Commercial Report refers to the credit reports generated by TransUnion CIBIL for various prospective commercial entities. CIBIL Commercial Report assists the lending institutions to check borrower’s profile before any credit approval. Commercial credit reports need to be generated for various profit making entities that are as follows:
- Public Limited Companies
- Private Limited Companies
- Partnership Firms
Further discussed are the meaning and significance of CIBIL Rank along with key aspects and components of the CIBIL Commercial Report and various other related factors:
CIBIL Rank is collated from your Company Credit Report that summarizes your creditworthiness and prospects of availing funds from leading financial institutions. The CIBIL rank is displayed in your company credit report in the form of single digit numeric that is scaled from 10 to 1, wherein 1 is considered as best in availing funds. Do not worry, if you do not have a commercial CIBIL rank, as TransUnion CIBIL generates CIBIL rank for companies with current credit exposure of up to Rs. 50 crores. The rest of the companies shall not receive any CIBIL rank who does not fall under this criteria.
CIBIL Commercial Report
CIBIL Commercial Report, also known as Company Credit Information Report is a statement of a commercial entity’s credit history that also depicts its creditworthiness and past credit behaviour. Find below a representation of key features of CIBIL Rank, along with difference between CIBIL score and CIBIL rank.
Just as TransUnion CIBIL calculates and generates CIBIL Scores and CIBIL Reports for individuals, same way it also generates CIBIL Ranks and Company Credit Reports (CCRs) for commercial entities, such as public and private limited companies, partnership firms and sole proprietorships. CIBIL Commercial Report serves as a record of the company’s credit history, based on the data submitted by various lending institutions across India on a monthly basis. The main purpose of this report is to help lenders assess the credit behaviour of a prospective commercial borrower. It helps lenders make them informed lending decisions for borrowing entities considering their creditworthiness.
Additional Read: How to check my CIBIL score free?