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CIBIL Commercial Report

A multi-dimensional and comprehensive data on commercial borrowers are provided by the CIBIL Commercial Report. This can help you make lending decisions in an informed manner. The borrowers may be proprietorships, partnership firms, private limited companies, and public limited companies.

Various details such as the credit date to the risk scores are mentioned on the CIBIL Commercial Report. By checking the report, you can lower the instances of serial and concurrent defaults. This can help your business get better opportunities as a credit grantor.

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Features – CIBIL Commercial Report

The main features of the CIBIL Commercial Report are mentioned below:

  • Credit history of potential commercial borrowers can be accessed.
  • You can access financial responsibility before making a decision.
  • Risks are lowered and you can lend with confidence.
  • You can get insights into the overall borrowings across various lending institutions.
  • The credit can be disbursed faster.

Process to get CIBIL Commercial Report

The step-by-step procedure to get the CIBIL Commercial Report is mentioned below:

  • Visit https://cibilrank.cibil.com/.
  • Details about your company such as the name, ID Value, type, GSTN Value, contact information, and address must be provided.
  • Agree to the terms and conditions and click on ‘Submit & Continue to Step 2’.
  • On the next page, choose the mode of payment. Depending on the plan that you have chosen, the amount that must be paid will vary.
  • Once the payment has been made, a Transaction ID and Registration ID will be sent via email.
  • The KYC documents must be uploaded next. Once the relevant KYC documents have been uploaded, the CIBIL Rank and the CIBIL Commercial Report will be sent to the registered address within 7 days.

Factors that Affect the CIBIL Commercial Report

The list of factors that affect the CIBIL Commercial Report are mentioned below:

  • Company’s Profile: The life and size of the company are considered. A sound financial history is usually maintained by older and bigger corporations. Therefore, they are considered more creditworthy than newer organisations.
  • Outstanding Debts: Any outstanding debts will affect the CIBIL Commercial Report in a negative way. Therefore, it is vital to keep only feasible debts outstanding.
  • Payment History: The payment history of the company plays a vital role in the CIBIL Commercial Report. The report will be affected if you do not pay your EMIs on time.
  • Credit Utilisation Ratio: The credit utilisation ratio is an important factor that is considered on the CIBIL Commercial Report. In case your credit utilisation ratio is high, the report will be affected in a negative way.
  • Credit History: The credit history length plays a huge role in the CIBIL Commercial Report. The report will be better if your credit history is long.

Ways to Improve the CIBIL Commercial Report

Some of the ways to improve the CIBIL Commercial Report are mentioned below:

  • You can avail a long loan and pay it on time. This can help in creating a good image with the lender.
  • It is vital to keep a note of the money that has been received and spent. This can help in determining the amount of loan you will need from the lender.
  • In case there are any issues with the credit statements, it must be rectified immediately. This can help in availing a loan.
  • All your EMIs must be paid on time. It is also important that the entire outstanding amount is paid by the due date.

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