Check That Company Advises Firms To Check Up On Their Own Credit Status

Leading online credit checking service for small companies, Check That Company (www.checkthatcompany.co.uk), is advising business owners and directors should check on the credit rating of their business before they seek further loans or assistance from their banks. It says that during the downturn, many banks and lenders have changed the way they score businesses and customers, so even if you think you have a great track-record, if you do apply for finance, you could be in for a shock.

Dennis Scott, Operating Director of Check That Company says that many businesses could find that they have been marked down. “If you do you not know what your business credit rating is, we advise you check. In recent months, finance companies have been reviewing the way that they score and rate potential customers. Even though you might think that you have a decent rating, you might get a surprise when you come to take out a loan or go to the bank for an overdraft extension. That could put whatever plans you did have to grow in jeopardy.”

With inflationary pressures starting to push costs upwards, many businesses could find themselves needing additional help, Scott notes. “While recent figures indicated that that the number of business failures declined last year, the position could soon change. The rise in fuel, transport and power prices and the general hike in prices across the economy is going to put more pressure on small businesses over the next few months. Many of them might need to turn to the banks for help once again. But if they are not ready to meet any objections or provide the right level of assurance, they might not get what they need.”

One good way of heading off any difficulty would be to ensure that your business is not too exposed to debt, says Scott. “Checking on the ability of current and future customers to pay their bills, as well as your own status, would certainly be prudent in the current climate”, he states.

Businesses can check their own credit position and that of other firms quickly and easily on the Check That Company website (www.checkthatcompany.co.uk). Registering takes seconds and you can get your first detailed company report for just £1.99. Official company documents can be purchased for just 99p each. After that you get reports for only £2.49 each on a pay-as-you-go basis or less if you stock up on credits.

With over 9.4 million company reports on offer, Check That Company is the most comprehensive and up-to-date website and online company information database for businesses in the UK and Ireland. Businesses can register with the service simply by going to www.checkthatcompany.co.uk . It operates on a pay-as-you-go model and no annual subscription is required to access the service.

For more information on Check That Company please contact:

Dennis Scott

Check That Company

Tel: 07860 567940

Email: info@checkthatcompany.co.uk

Web: www.checkthatcompany.co.uk