How To Check Cibil Score For Business Loan
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How To Check CIBIL Score For Business Loan?
All loan lenders in India give due importance to CIBIL to check the creditworthiness of the business owner. Notably, the CIBIL score is the numerical representation of the financial behaviour of the borrower. Therefore, all business owners looking forward to applying for a business loan needs to check CIBIL score online.
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What is CIBIL Score?
CIBIL score is a three-digit number representing the credibility of an individual or business, their past payment history, and the number of loans running on their name. The CIBIL Company Credit Report is a record of payment history of the individual. Notably, this history is compiled by multiple institutions.
For CIBIL rank, the range is between 1 and 10. If an individual’s score is close to 1, there is a better probability of securing a loan. If the score is near 10, it means the loan will not be easily sanctioned. Notably, the CIBIL score is applicable for individuals looking for loans, whereas CCR is for businesses seeking loans.
Every individual is entitled to get a free CIBIL score report every year. To check CIBIL score for a business loan, you can visit the CIBIL’s official website. Follow the following steps to check CIBIL report online:
Visit CIBIL’s official website.
Create an account by entering necessary details, such as username, password, e-mail ID, and mobile number.
The steps mentioned above will help you get your CIBIL report immediately.
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