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Creditworthiness expresses the extent to which borrowers are able to meet their financial obligations. This measure is used to see whether borrowers can repay a loan. But it is also used to see if people, companies or countries are financially stable and reliable. BKR listing is used for persons when they are not creditworthy.
Creditworthiness is a term that occurs with loans. Lenders only want to provide loans to companies that are creditworthy (= financially sound). But the term does not only play a role in loans. It also plays a role in doing business and trading. Before business is done, it must be known whether the other party is creditworthy. In addition, it is also important to know whether existing customers remain creditworthy, to prevent non-payment.
Atlantis Financiers can help you obtain a loan if you, as an entrepreneur, have a negative BKR code. We look at your financial past, but will not necessarily see this as an obstacle to issuing a credit. If you have a minimum annual turnover of € 250,000, you can submit a financing application using the form on the right. You usually receive a response within 48 hours.
Why is creditworthiness important?
As mentioned earlier, creditworthiness indicates the financial health of a person or company. So if you are creditworthy, you are financially sound. This means that you meet your payment obligations properly. That is positive in itself, but it also makes it easier for you to obtain a loan than if you are not creditworthy. The opposite naturally also applies.
For a company, it means that it is easier to do business because you are less at risk than if your company were not creditworthy. As a result, you can purchase inventory on credit from your supplier. This is also called a supplier credit. It is also easier for you to get a credit from a lender if you are creditworthy than if you are not.
Creditworthiness can also be used to measure how the economy is doing. The creditworthiness of companies as a whole, says something about the economy. If the creditworthiness of all companies decreases, the economy may be less successful. But if the creditworthiness of all companies increases, the economy will do better. Creditworthiness therefore not only reflects the financial health of a person or company, but also of a country.
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How is it measured?
Creditworthiness is measured by combining a large number of financial data. This data is expressed in letters A to D, where A stands for very creditworthy and D stands for no creditworthiness. How your score is, therefore, depends on your creditworthiness. The better you meet your payment obligations, the better your creditworthiness is.
In general, the healthier the company, the higher the credit rating. Financial health is derived from various things, such as cash flow. Is the cash flow sufficient to meet current obligations? It also looks at how large your debt is in relation to your equity. And of course your payment behavior is looked at. Did you have payment arrears in the past? This has a negative impact on your credit score.
If you meet your payment obligations neatly on time, and therefore have no payment arrears, this has a positive influence on your creditworthiness. Even when you have no outstanding debts, this ensures that your score is positively influenced.
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Can you influence your credit score?
You cannot immediately turn a negative credit score into a positive credit score. However, you can adjust your payment behavior. This ensures that your credit score is improved, and therefore also your creditworthiness. You can influence this by doing a number of things yourself. Keep in mind that time has to be taken. It is therefore not the case that if you fulfill your payment obligations from now on, your credit score will also immediately change to an A.
The most important thing is that you are aware of your credit rating. When you are aware of this, you know how you are doing and it is easier to take the next steps. The next step is the proactive delivery of data to the Chamber of Commerce and credit information agencies.
Make sure that you submit your annual statement within 9 months after the close of the financial year. The following applies: the more recent your data, the more reliable your credit rating is.
In addition, you must ensure that you pay on time. If you adhere to the payment term, companies and other authorities can see this. This way you have proof that you pay your bills on time. Your payment history determines 35% of your credit rating. It is therefore very important that you do not wait with payments, especially if you want to have a high credit score.
Atlantis Financiers is your partner
Atlantis Financiers is an experienced financier for SMEs. We dare to take more risks than the average financier, which means that more is often possible than you initially think.
As mentioned earlier, it may be that you are not creditworthy and have a negative BKR code. However, it is not the case that you can no longer obtain a loan . Of course we look at your financial past, but this is not necessarily seen as an obstacle to obtaining a credit.
Are you an entrepreneur with a negative BKR registration and do you have an annual turnover of at least € 250,000? You can then submit a non-binding financing application via the button below. Because we use tailor-made solutions, it is not possible to make a statement about how much you can borrow, what you have to pay back per month and what the interest rate will be. This depends on your personal situation. After submitting an application you usually have an answer within 48 hours.