The high creditworthiness of a company is the result of many different factors. If you want to borrow money without problems, you should take care of it. What should we pay special attention to then?
In accordance with the provisions of the Banking Law, the creditworthiness is the ability to repay a loan or loan along with interest within the time limit specified in the contract. In the process of applying for a loan or loan, creditworthiness is the most important factor. Without it, we can not count on receiving money.
It is worth noting that both low creditworthiness and lack of it are not good news for the entrepreneur. We invite you to read our tips on how you can easily increase your creditworthiness in business.
1. Increase your income
This is the simplest and most effective way to improve the creditworthiness of your company. Of course, it’s easy to say because sometimes raising it is not as easy as it may seem. It is worth one to think about it in a perspective and strive to make the company have more and more income with each month and year.
2. Lower your expenses
The second important issue in the context of creditworthiness in business is the expenses incurred. Even when we have high incomes, but equally high expenses, our creditworthiness will not be good. It is worth to reduce them. Here we can use various solutions – moving to a smaller office or using co-working, outsourcing services instead of hiring employees, choosing a cheaper bank and subscription, resigning from a credit card.
3. Collect savings
Our creditworthiness is also affected by your savings. The more money there is, the easier it will be to get the money, because then the savings will be a security. You can save savings on your savings account or on deposits so that they do not lose value.
4. Pay taxes and premiums regularly
In the context of business, regular payment of taxes to the Tax Office and social security contributions is also very important. If we are lingering with them and lead to delays in repayment, then it also affects our creditworthiness.
5. Take something small in installments
When in BIK, that is in the Credit Information Bureau, there is no information about you, it is worth changing. BIK is not only a database of debtors, but also contains a lot of positive information about borrowers and borrowers in Poland. When we are at BIK and we pay debts regularly, this works in our favor. When we had delays, then the chance of getting money is getting smaller. It is also lower when there is no BIK at all. To change this, we can take a small loan in installments and pay it back on time.
6. Choose a longer repayment period
It is also worth mentioning that the longer the repayment period of the loan or loan, the installment will be lower. A low installment is more beneficial for a company budget because it reduces the risk of repayment problems. Therefore, spreading the loan over a longer period allows you to get money more easily.
- improving creditworthiness
- improving the company’s creditworthiness
- improving the creditworthiness of operations