Only 29% of businesses strongly agree that they keep tabs on their credit score. And just 24% know how to improve it.
Capitalise has partnered with On The Tools to make understanding, tracking and improving your credit score is easy.
There are places you can go for credit insights. And places to look for funding. There are places where you’ll pay for advice. And places to track how your business is doing.
Now you found us through On The Tools, you can do it all, in one place, with Capitalise for Business.
Negotiate better terms with suppliers
Win more contracts with bigger clients
Access affordable funding with ease
Get ahead of risks and opportunities
Get full access to the information lenders will look at about your business
Understand how likely your business is to get approved for funding
Track the funding you already have and find out how much more you can borrow
Check what your credit score is today and what that means
Monitor the factors impacting your score, both positive and negative
Find out how to improve your credit score and get support to do so
Start a funding search of over 100 trusted lenders
Find funding that’s a better fit from the most suitable lenders
Apply to four lenders with one simple form and track all your applications
Check the credit score of your customer, suppliers or competitors
Get alerts on changes to your customer's creditworthiness
Monitor your customer's payment performance
At Capitalise, we work with a number of institutional lenders, including high street banks, alternative lenders and independent lenders. These lenders offer a variety of products so you're certain to find the most suitable solution for your business. Capitalise makes it easy to find, compare and select lenders who are most likely to give you an offer.
At Capitalise, we work with specialist lenders who can not only provide you with the funds your business needs, but have a proven track record supporting similar businesses within your sector.
Improve your business credit score with your free Capital Report powered by Experian
Reduce risk to your business by running company credit checks on customers, suppliers and competitors
Get matched with the right lenders for your business with a single search.
A credit score is the measure of how creditworthy your business is. In other words, your score shows a bank or lender how much of a risk it would be to lend your business money. The higher your score, the more likely it is that your business can pay back any debt, for example the repayments on a loan. Credit agencies each have their own scale for calculating your credit score. Our credit agency partner, Experian, uses the Commercial Delphi Score with scores that range from 0 (the highest risk) to 100 (the lowest risk).
Your credit score is important because it’s a measure of the financial health of your business. Not only does it show your financial position today, but it can be the difference between a healthy and unhealthy position in the future. The higher your credit score, the more funding you can get to fuel everyday operations and ambitious next steps. Businesses with higher scores can negotiate better terms with suppliers and are more likely to win contracts with new clients.
Read more about credit scores and why they’re important here.
There are several factors that affect your credit score – both positively and negatively. These include how promptly you pay suppliers and whether or not you have any legal notices against your business. Your Companies House SIC code is also a factor and so is your filing history. Credit agencies will also consider the age, industry and location of your business as well as certain information about its directors.
The exact steps you need to take to improve your credit score will be specific to your business and the factors that are having a negative impact. But here are some general guidelines you can use to get started:
Read more about improving your credit score here.
Your personal credit score measures how creditworthy you are as an individual. In other words, could you personally pay back a debt? If you wanted an overdraft on your personal bank account for example, your bank would look at your score to decide whether you’d be able to make the monthly payments. Your business credit score is a measure of how creditworthy your business is. If you applied for a business loan, the lender would look at your business credit score to decide whether your business would be able to keep up the repayments.
You can check your credit score right now by signing up to Capitalise for Business. If you’re already signed up, you can check your score at any time by simply logging in.
With Capitalise for Business, you can access all your credit score insights starting at £19/month (plus VAT). Every time you log in, you’ll be able to see: