What is a Credit Rating?

How can you improve it?

A Credit Rating is an evaluation of a business’ ability to receive bank financing without collateral. It is determined by evaluating the credit history, finances, payment discipline and amount of company’s current obligations. The offered loan amount depends on the business’ turnover in its bank accounts.

To receive a positive credit rating and be able to get Bank loan offer to the companie, make sure of the following:

  • You and your company have no active debts on payments on current obligations;
  • Payments on current obligations are made regularly and on time;
  • Payment discipline is also followed when paying for other services - telecommunications, household services, etc. Make sure that there is no active debts at this time;
  • Restrictions have not been placed on you business’ accounts;
  • At the time of completing the credit rating, the company has no active debts for tax payments, and day-to-day tax payments are made on time, without delays;
  • The companies economic activity has a positive trend;
  • With its current economic activity, the business is able to cover all current and planned obligations;
  • The business has been in operation for at least one year, and at least one official annual report is available;
  • Turnover for the business in the previous year was at least 12 000 EUR.