Ans. In India, Cibil Rank is a special indicator given to businesses and MSMEs, not to individuals. It is a numeric rank ranging from 1 to 10, where 1 is considered the best and reflects the lowest credit risk for lenders. A good CIBIL Rank shows that a company has a strong repayment history and better chances of getting business loans or credit facilities approved.
Banks and financial institutions often check this rank before extending loans to businesses. Just like individuals rely on CIBIL Score, businesses depend on CIBIL Rank to showcase their financial trustworthiness.
At Apoorvaa – Credit Bureau Lawyer of India, we assist MSMEs and enterprises in understanding and improving their CIBIL Rank so they can access credit easily and grow their business without financial roadblocks.
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