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Micro, small, and medium enterprises (MSMEs) are the backbone of the Indian economy. As a business owner, when it comes to expanding or scaling up your organisation, business loans can be a reliable source of capital on your entrepreneurial journey. But did you know, when you apply for a business loan—whether it’s a term loan, working capital finance, or any other non-funded credit facility—the bank manager will review your commercial credit report to assess your business’s creditworthiness? For this purpose, they may refer to your CRIF Business Credit Report.
In the business loan underwriting process, the CIBIL MSME Rank is commonly used by financial institutions. However, many bank managers now also prefer to check commercial credit reports from other credit bureaus, such as the CRIF Highmark credit report. That’s why, if you’re going to apply for a business loan, you should check your CRIF Business Credit Report as well to monitor your company’s credit health and secure the best financing options.
In this blog, we will discuss about the CRIF Business Credit Report, its importance, and the process of generating your commercial CRIF Highmark credit report online. So, let’s start by understanding what a CRIF business credit report means.
What is the CRIF Business Credit Report?
In simple terms, the CRIF Business Credit Report provides a comprehensive credit profile of a commercial entity, such as a public limited company, private limited company, partnership firm, or proprietorship business.
This report includes the company’s credit history, repayment records, current credit utilisation, and other financial aspects, specifically designed by CRIF Highmark, a leading credit information company.
CRIF Highmark is an RBI-licensed credit bureau that maintains a credit database for millions of commercial entities, collected from PSU banks, private lenders, NBFCs, and microfinance institutions across India.
When a commercial borrower avails a credit facility for their company, the respective lender reports the credit records and loan repayment behaviour to the CRIF Highmark credit bureau.
By analysing this data, the bureau assigns a unique credit score to your organization—known as the CRIF Score—which ranges from 300 to 900. This score reflects the financial health and risk profile of your company, indicating how well you manage debt as a business owner.
Typically, a CRIF score above 700 is considered good and opens up more financial opportunities for your business.
Why should you check your CRIF Business Credit Report?
I. It helps you to identify the errors (if any) and prevent unexpected loan rejection.
II. It helps you to understand your business credit report and its different optimising parameters. So that you can work on those to improve your commercial CRIF score.
III. It gives you an overview of your business. By improving the CRIF score, you can diversify the financial opportunities, secure easy loan approval at the best interest.
Process to get your CRIF Business Credit Report:
Do you know, you can’t access your CRIF Business Credit Report free of cost? As per the RBI Guidelines, CRIF Highmark Credit Information Company, provides an annual free report only for their individual consumer.
If you are a commercial entity, then you have to purchase your company CRIF report from their official website by paying an amount of 2,700 rupees (Only one credit report).
- Visit the CRIF Highmark Credit Information Company’s official website: https://www.crifhighmark.com/. On the dashboard, you will find the option “CREDIT SCORE” as highlighted in the picture below.
Click on the “CREDIT SCORE”, and you will get another two options, as “Personal Credit Score” and “Business Credit Score”. As you’re going to generate your business credit report, so, choose the option “Business Credit Score” and process further.
2. Then a new page will open for you. On this page, you will find the option “GET YOUR BUSINESS CREDIT SCORE NOW” as marked on the picture below. Click on the button and move forward.
3. On the very next page, you will get a form, where you have to put your company details, such as your organisation’s legal name, your name (as an authorised person of your company), your company’s contact details, email ID and mobile number. Try to put the email ID and mobile number, which are linked to most of your business loan accounts. Fill the form carefully and click on “GET STARTED” button.
4. Then you will get a 6-digit verification OTP on your registered mobile number. Put the OTP and click on the “VERIFY” button.
5. CRIF registration is complete. Now, you will reach to your commercial CRIF dashboard. Here, a payment pop-up will open for you. Check on the “PAY NOW” option and proceed further.
6. Then the payment gateway will open to you. Re-verify your Consumer Information, then click on “Proceed” and complete the payment procedure.
7. After completing the payment, a successful message will open for you. Now, close the tab and re-login to your Commercial CRIF Portal by filling the previous form.
8. Now, on your commercial CRIF Dashboard, a new pop-up will open for you. Here, you have to upload your company’s KYC documents and applicant identity proof.
I. Organization PAN CARD (If your organisation is a proprietorship firm, then the proprietor’s PAN will be treated as the company PAN CARD; otherwise, your organization should have a separate PAN number)
II. Authorisation Letter. (Write a letter in your company letterhead, as you’re requesting your commercial credit report for your company.)
III. Organisation Address Proof. (It can be a company agreement copy or company utility bill- Electricity/phone bill, or an Address proof affidavit)
Note:
All the company’s documents should be signed by the applicant (Authorised person of the company) along with the company’s official stamp.
IV. Your PAN CARD (As an applicant/ authorised person, attach your PAN CARD)
V. Employee ID CARD HERE (If you don’t have any separate employee ID card, you may attach the ROC or GST registration certificate, which acts as evidence that you’re an authorised key person of your organisation).
**** Applicant ID proof should be self-attested by the applicant.
9. After uploading all the documents, wait for 3- 5 working days for document verification. Once the verification is completed, you can access your CRIF business credit report from the “My Report” section on the dashboard. Or, CRIF authorities may also share the latest CCR with your registered email ID.
10. Typically, the CRIF report is password protected. The password is 8 characters. It is a combination of the first four letters of your organisation’s name in lower case, as it appears on the details entered by you and the last 4 digits of your office phone number. For instance, if the name appears on the details as Infotech Enterprises and the office phone number is 12344321, then the password would be “info4321”.
This is all about the process of generating your CRIF Business Credit Report. If you face any difficulty in terms of “payment failure” or any “Technical issue”, you can email to CRIF Customer care support: customerservice@crifhighmark.com or call to their Principal Nodal officer: 020-6715-7742 (between 09:00 am to 06:00 pm, Monday to Friday).
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