When you review a credit application using our platform, you get to explore the financial history of the applicant through insights from Creditsafe, Equifax, and Dun and Bradstreet. This article will focus on Creditsafe specifically.
Summary
The Creditsafe report starts with an overview of the applicant's business, such as their legal name, address, when they were established, their website, and other key details.
Trade Payment Dashboard
Following that, the Trade Payment Dashboard comes into view. It offers a graphical depiction of the company's trade-related payments and transactions, allowing you to examine their active trade lines, total balances, and additional information. This dashboard serves as a tool for visualizing cash flow patterns, illustrating the movement of funds both inwards and outwards over a period.
Credit Status
The Credit Status will enable you to identify whether any of the applicant's payments are overdue, delayed, or made on time. Offering you in-depth insights into their financial behavior.
Credit Score/Limit
Here, you'll find the applicant’s credit rating and credit score:
The Credit Rating shows how likely it is that a person or company will repay their debts. It's a number given by independent agencies based on the risk of loans or financial transactions.
The Credit Score is a number indicating how creditworthy a person is. It's used by lenders and others to judge how well someone manages and repays debts. This score comes from analyzing the person's credit report, which tracks their financial history and habits.
Limit Recommendation
Once we review the applicant's credit limit and score, we'll offer you a recommended limit based on the information gathered from Creditsafe. However, the final decision is entirely up to you, and you should choose the limit that you find most suitable and comfortable.
Negative Information
Towards the end of the credit report, you'll come across any negative information linked to the company, such as records of bankruptcy filings, tax liens, lawsuits, and other pertinent details.
If there's anything in the Creditsafe reports that you find confusing or have questions about, please feel free to contact our support team at support@nuvo.credit. Don't hesitate to reach out; we're here to help!