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Posted On : 20 Mar, 2017  Source : PTI  Place : Mumbai 
Experian launches credit score service for commercial entities
In order to help banks better assess credit risks related to commercial firms, Credit information company, Experian India, today launched credit score service for such entities.

The commercial credit information report will contain a commercial score, which helps in providing a 360-degree credit assessment by combining both individual and business borrowings together.

"We believe that a commercial score and account review will help the banks take informed credit decisions. The score will aid banks in their underwriting process. It will also help the commercial entities to leverage their score in getting better rates," Experian Credit Bureau, India's managing director Mohan Jayaraman, said.

According to a recent analysis by Experian in the country, nearly 26 per cent of the proprietorship firm population and 15 per cent of private firm population are at a high risk.

The commercial score with a range of 300-900, has been designed such that it provides a comprehensive view of commercial obligations of proprietors, Jayaraman said.

For partnership and limited liability companies it will include a risk rating from 1 to 10 on the entity, thereby providing a unique way to analyse business risks for SMEs vis- -vis medium to large companies, he added.

Jayaraman said currently the credit score is available only to banks but going ahead the company will provide score to commercial entities as well.