What's in the Credit report?

The Handle credit report has been designed to give you an overview of your business's ability to get credit. This could be borrowing from a bank or lender or whether you are able to pay a supplier or trade creditor on an invoice.

Have a specific question about the Handle credit report? Use the links below to jump to a section.

Contents

  1. Your Handle credit score
  2. Your credit rating
  3. Identification strength
  4. Unsatisfied CCJs

1. Your Handle Credit Score

Handle credit report business and director credit score screenshot Your Credit Score is a critical part of your digital profile and there are two main factors that determine your score;
1. The depth of the profile held by Credit Reference Agencies
2. Your previous repayment performance.

This is used to determine the level of risk associated with offering your business credit.

How is it calculated?

Your Handle Credit Score is on a scale from 0 - 1,000 and is calculated based on several elements included in the commercial credit file of your business plus your personal credit file as a director.

This includes your payment performance, the availability of verification information for your business and any previous applications for credit you have made.

The data used to calculate this score is gathered from Companies House, your Equifax business and personal credit files and your Handle profile.

What a high score means

The higher the score, the stronger your business's track record of repayment and the more effectively your business has managed any debt in the past. As a result, suppliers, lenders and trade creditors will have more confidence in your business and consider it a lower risk to offer credit to.

A higher Credit Score will put your business in a better position to access the best rates on finance, improve your chances of being approved and help ensure the best payment terms from suppliers.


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2. Your business and director credit score

Handle credit report credit profile screenshot Your Credit rating is different to your credit score and represents the likelihood of your business repaying what it owes.

Your Credit rating is used by lenders and trade creditors to decide whether to give you credit (including when a business decides to give you the opportunity to pay on invoice rather than upfront).


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3. Identification strength

Handle credit report verification screenshot Your identification strength is a measure of how easily third parties can identify and verify your business based on information available from your business's digital profile.

Customers, suppliers, lenders and even prospective employees will look to verify your business when making a decision about whether to do business with you. The easier it is for these people to find and verify your business. In turn, confidence allows people to make faster decisions so you can get on with the task in hand and avoid periods of potential financial uncertainty.


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4. Unsatisfied CCJs

Handle credit report finance ready screenshot This is the number of outstanding County Court Judgements (CCJs) currently held against your business.

A CCJ is a claim issued by the Court stating that you owe money to a creditor and have failed to reach an agreement with them.

What does having a CCJ mean?

An unsatisfied CCJ will have a negative impact on your Credit Score as it demonstrates that your business may not repay what it owes. This may make it less likely that lenders will consider your application for credit and impact the payment terms your business is offered.

This card also covers your finance ready state. If you have any insolvencies or CCJ's lenders and suppliers are less likely to accept your business.


Questions?

If you have any questions about any of the data in your Handle Credit report? Please email [email protected] with some details and we’ll take a look for you.

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