What is Company Credit Report (CCR)?

CIBIL also judges creditworthiness of companies and not individuals alone. Company credit reports (CCR) are important in regards to businesses or firms you own, whose financial health comes into play while deciding on a specific loan application. If the company has outstanding amount on it or has many lawsuits against it, then CCR can take a blow, and affect chances of the organization as an asset to get a loan on.

Details in Company Credit Report

  • Your CCR will contain identification details of the organization such as its unique number of registration.
  • It will also consist of the company profile and the information like company contact details, name, address, DIN number, and more.
  • The CCR will provide credit extended to the company and its data such as type of credit assigned, loans, overdraft, total credit etc.
  • The credit report of the company will summarize the organization's credit history and list the number of loans there were or are in against the name of the company. If the same had acted as a guarantor for a loan, such detail will also reflect in CCR.

Importance of CCR

It is a known fact that CIBIL report for a company help financial institutions and banks analyze the organization's credit worthiness and repayment discipline along with its borrowing history. Company credit report is the basis for lender to release loans to it, and a unified report where it's financial journey is duly noted. It is also an exhaustive report which indicates the score assigned, if good can be used to negotiate interest rates.