What is my business credit score?
A Firm Choice business credit score, referred to as a “Company Credit Rating” calculates the probability of a company becoming insolvent within the next 12 months. We highlight creditworthiness through our ‘traffic light’ system of credit scoring;
Red advises you to be very cautious
Amber suggests that you negotiate short payment terms
Green gives you a positive credit decision.
Are your reports endorsed by any credit insurers?
The credit limits that feature within the Company Credit Reports are approved by all leading UK credit insurers. As an approved source, policy holders can use our recommended credit limits and integrate this into their discretionary policy limit or at a level advised by their credit insurance underwriter.
How often do you update your data & Where do you get your data from?
The Firm Choice database is updated in real-time, over 1 million times a day.
Our data is collected from over 200 sources, where possible we will collect information from official registries similar to Companies House. Our network of 16 offices and trusted local partners allow us to collect information locally; ensuring we always deliver high quality, up-to-date information.
How is the business credit score calculated?
Our credit scoring provides a score of 1-100.Your business credit score is calculated using the most sophisticated statistical algorithms available. It considers over 150 parameters, as well as economic and industry factors.