Free Business Credit Check
According to South African law, you are entitled to get a free business credit check once a year.
The importance of a business credit check:
Your business credit is often the basis for decisions other companies make about you. Business credit reports can help with managing credit risk. Your credit report will provide other companies with a blueprint to the credit history of your business.
By getting a free business credit check you can ensure that positive information is included in your business credit profile. Many credit reports are inaccurate and this may affect the chances of your business getting access to further credit.
A business credit check should equip you with information pertaining to:
- Key facts about the business
- Corporate registration and contact information
- Key personnel
- Detailed financial payment trends
- Predicted payment behaviour
- In-depth credit history
- Banking insurance and leasing information
- Bankruptcy filing
- Judgement filings against the business
- Credit inquiries made in the last nine months
By getting a free business credit check you are able to assess your business’ current standing. If the results are not satisfactory, you can take the necessary action to ensure that your business’ credit worthiness improves to reflect your business in a positive light. Avoid any nasty surprises by ensuring that you get a free business credit check in time.
Business credit reports allow companies to evaluate the creditworthiness of a potential account or business partner.
Keep in mind that your credit rating will influence many important business decisions such as:
- The interest rates your business is charged
- How much credit a supplier will extend to you
- What your insurance premiums will be
- How much capital you can borrow from lending institutions
Here are a number of companies that may provide you with a free business credit check:
My Credit Check www.mycreditcheck.co.za