FREE Business Credit Score

  • FREE Business Credit Scores are sourced from Veda

  • Knowing your Business Credit Score can help you secure a great deal on a business loan

IN THE NEWS

GET YOUR FREE BUSINESS CREDIT SCORE NOW

BUSINESS DETAILS

YOUR FINANCE NEEDS



ABOUT US

SME Credit Score connects you with a great financing option based on your credit score, which helps your approval chances and reduce your interest costs.

We started this site to provide the tools that Australian businesses need to get a great deal on their Business Finance requirements. We also provide advice on how to improve your SME Credit Score and save money for your business.

Strong business credit scores are vital to getting your company approved for finance and trade credit.

YOUR SCORE EXPLAINED

Your Business Credit Score is a number ranging from -200 to 1200 that summarises how financially risky your business is. In other words, a Business Credit Score tells people how likely you are to pay your debts. The higher your Business Credit Score, the lower the risk of your business. Strong Business Credit Scores are an important factor in getting approved for Business Loans and trade credit.

Score Range Risk Description
901 to 1200 Very Low
601 to 900 Low
301 to 600 Medium
1 to 300 High
-200 to 0 Very High

FAQs

smecreditscore.com.au (SME Credit Score) is a free tool developed by MerchantCash.com.au – who provide Business Loans in Australia. The goal was to allow Australian SME owners to see their credit score before applying for a business loan.

Your Business Credit Score is a number ranging from -200 to 1200 that summarises how financially risky your business is. In other words, a Business Credit Score tells people how likely you are to pay your debts. The higher your Business Credit Score, the lower the risk of your business. The highest score, 1200 means that there is a 0.1% chance that you won’t pay all of your bills in full and on time over the next 12 months. The lowest score -200 means that there is a 94.1% chance that you won’t pay all of your bills in full and on time over the next 12 months.

When you apply for a Business Loan, lenders will use your Business Credit Score as one of their checks to determine whether to lend to your business. This is one of the quickest and most common checks a lender makes, so it is important for you to understand your score and improve it if necessary.

Your Business Credit Score is calculated by the credit bureau Veda. Veda use complex algorithms and hundreds of data points to build up your Business Credit Score. These include whether you have paid your bills on time, how often you have applied for loans and in what space of time, the types and amounts of loans you have applied for, who the directors of your business are, and how long you have been in business, to name a few. The most important factor in your score is whether you have paid your bills in full and on time.

Anytime you apply for a loan, the lender will look at your credit report to see whether you have repaid your debts in the past.
Yes. Lenders will be able to see that you have requested your credit score. It will show up as a “Search Request” performed by “SME Credit Score”. Having too many enquiries on your credit file can negatively impact your credit score, and if you are concerned about this we advise that you do not request your credit score. This is not a formal application for a loan, and will only have a small impact.

Errors on your report can make it more difficult or even impossible to apply for new loans. If you find an error on your report, you should first contact the company that made the error. If the company is either unwilling or unable to rectify the mistake, you can contact the credit bureau from which the credit score came. There are three credit bureaus in Australia that can do this – Veda, Experian and Dunn & Bradstreet.

Please note that SME Credit Score are unable to fix errors on your behalf.

We are able to offer this service for free by linking you up with providers of business loans. If you take out a business loan with one of these providers, they will pay us a referral fee which helps offset the costs of providing this service. There will never be a charge for you. Please note that at this time, we are only able to offer free credit scores to businesses that are seeking finance. If you are not currently seeking finance, you are able to purchase your business credit report directly from the Veda website.
Only the owner / directors of a business are entitled to a free credit score from SME Credit Score. The questions we ask are to ensure you are indeed the owner or director of the business in question.
Any Australian business that has been in operation for more than 12 months can use the free SME Credit Score service. Only business owners and directors are eligible to request scores on their business’ behalf.
Your free business credit score is provided by SME Credit Score, who use Veda to source the score. Veda are a provider of credit data and analysis with information on approximately 5.7 million businesses and 20 million individuals across Australia and New Zealand. Veda also has a global presence through its operations in Malaysia, Singapore and Saudi Arabia.
Credit bureaus are able to provide a Business Credit Score for all entity types except trusts. Hence, at SME Credit Score we are able to provide a Business Credit Score for all entity types except trusts. However, do not despair, as if you have a trust, we are still able to connect you with the right business loan lender.

We set this site up with the stated goal of educating Australian SMEs about their credit scores.

We simply ask in return that you help us out by spreading the word. We would really appreciate it if you:

  • Share with your business owner friends by email info@smecreditscore.com.au or on Facebook
  • We will also contact you to discuss your business lending requirements. This service is free, and there is no obligation to take out a loan

We use the following criteria to help match you with one of our lenders

  • Your Business Credit Score
  • Whether you have had any late or missed payments
  • How long you have been in business
  • Your annual revenue
  • How much your business needs to borrow
  • What you need the money for
  • Your business industry
  • Other information you provide us with, or that we are able to gather from public sources

We use all the of the information above to find a lender that is suitable for your business requirements.

You should note, that not every business will qualify for a loan. The primary reasons that you would not qualify are having large unpaid defaults on your credit report and serviceability (not earning enough revenue to cover loan repayments).

BUSINESS LOAN TYPES

Unsecured Loans

Vehicle Finance

Invoice Finance

Equipment Finance

Property Finance

Other Loans