The relation between Paydex scores and business credit
In the race for the top spot, credit is the fuel that businesses need to power ahead of their competitors. It allows you operational choice and flexibility to raise the scale of operations when needed. If you opt for a lump sum loan facility, it gives you access to a large quantum of funds that can be used to raise the scale of operations. For us at shelfcorpgiant.com, we have seen how access to a line of credit can transform a firm's future. We work with many business owners and use shelf corporations to enhance their chances of getting a bank to sign off on a business funding facility.
One of the top draws on our site is the 80 Paydex Program that can accelerate businesses' funding process. We offer a solution that allows a company to obtain a Paydex score of 80 or above in a short time through our extensive knowledge of the credit process. But first things first, let us the concept of Paydex scores and how they are assigned to firms.
Get into the good books of D&B!
You must have heard of Dun & Bradstreet (D&B), one of the oldest and largest firms in the financial field. Well, if you have not, then we are glad to introduce this firm as it will play a vital part in your future. It provides a wide range of business information, advisory, and reporting services to companies and clients all over the world. D&B is the firm that assigns this score to your company. Once you start making payments and your creditors start reporting them to D&B, the company makes an assessment and assigns the score. It is based on your payment practices to creditors. For example, If you always pay on time or before time, you will receive the much-desired 80 Paydex score or even more.
On the other hand, when you delay payments to after the due date, then your score will fall to 70 or below. So, now we come to the relevance of Paydex scores on your chances of obtaining a funding facility from a bank. This is one of the major metrics checked by banks. One could even say that this can be a make-or-break for your business. The higher the score, the more bright your chances become! So, never delay a payment if you can help it!
