In the current economy with high interest rates, having access to better credit terms and higher credit limits can make a significant difference in the ability to secure financing on favourable terms. Bevan Buckland LLP understands this need and is proud to introduce its latest offering in collaboration with Capitalise, powered by Experian – the Credit Review Service.
Lee Bradley, Tax Partner at Bevan Buckland LLP, explains what Capitalise is, the importance of having a good business credit score and how the Credit Review Service can help you to achieve this.
What is Capitalise?
Capitalise, powered by Experian, is a leading financial technology platform that offers business finance and credit review and enhancement services.
The Importance of a Good Business Credit Score
In the past year, interest rates have surged, making it more challenging for businesses to secure financing at reasonable terms – the key to navigating this successfully is having a strong business credit score. A good credit score not only opens doors to better lending terms but also allows you to access higher credit limits with your supplier; this, in turn, can significantly impact your cash flow and overall business success.
Lee Bradley states, “Previously, interest rates were low, and the difference between having a poorer credit score and a good score may have been 0.5% between the interest rates on offer. In this climate, for example, a good business credit score means you may be able to borrow at 10% interest as opposed to a significantly higher rate of, say, 14%, which would really impact the affordability of borrowing.”
The Credit Review Service
Bevan Buckland LLP’s Credit Review Service offers several valuable benefits to businesses of all sizes:
1. Credit Score Enhancement: The service will review and potentially improve your business credit score. This improvement can lead to securing better lending terms, making borrowing more affordable and accessible than ever before. With a higher credit score, you’ll gain the trust of lenders, allowing you to access the best financing opportunities available as well as more trade credit with suppliers.
2. Supply Chain Protection: One of the key features of the Credit Review Service is the ability to check your customers’ credit scores; this helps you assess their creditworthiness and be alerted if they show signs of financial risk. Protecting your supply chain is vital for maintaining a steady cash flow, and this feature helps you make informed decisions to mitigate potential risks.
3. Access to Multiple Lenders: The Credit Review Service gives you access to a network of over 100 business funders, each offering various types of business funding. What sets this service apart is its ability to match your business profile with the lenders most likely to approve your application. Moreover, you can apply to up to four lenders in a single application, saving you time and effort.
If you’re eager to boost your business’s credit limits and improve your financial prospects, Bevan Buckland LLP’s Credit Review Service is here to help. To get started or learn more about this service, please don’t hesitate to contact your dedicated Bevan Buckland LLP advisor. They will guide you through the process and provide all the information you need to make informed financial decisions. Contact us on 01792 410100 or by emailing your advisor.