Know Your Score offers a clear picture of business health

Many SMEs don’t realise that their business has a credit score – one that’s just as important as their own personal credit score.

Now, thanks to the launch of Know Your Score by OnDeck Australia, business owners can get a clear picture of their business credit score without affecting their credit rating.

Good credit opens doors

Having good credit opens many doors for a business owner. A higher score shows their business is financially stable and low risk, which in turn increases their working capital options.

A company’s credit score is created at the same time the business is launched and will change based on a variety of factors, including payment history, debt, risk factors, and organisation size.

This score is a key indicator used for assessing credit or loan applications, and being aware of the score can help business owners make informed financial decisions.

“It took me less than two minutes”

Alison Dean, owner of Melbourne-based small business The High Tea Party, was pleasantly surprised by her company’s positive credit score and the easy, fast application process.

“I work from home and fit a full-time week in around my husband and three kids,” said Dean, “so I don’t have time to be visiting banks, digging around for paperwork or anything like that. I used Know Your Score on my mobile phone. It took me less than two minutes and I got the score straight away. It was a positive score too!”

Stay ahead of the game. Check on a business’ credit score by visiting the Know Your Score page on OnDeck’s website.

It’s simple – just enter the business’ details and as soon as the application has been submitted, receive a free score.

MYOB Loans Powered by OnDeck offers loans of up to $150,000 to MYOB clients, with the average loan being $35,000.

Applying for a loan is easy. Funding in as fast as one business day. And terms are flexible.

So if you need finance to help your business visit MYOB Loans.

* Loans are issued by OnDeck Capital Australia Pty Ltd ABN 28 603 753 215. MYOB holds a 30 percent stake in OnDeck Australia and has a referral agreement under which it earns a commission on loans referred to OnDeck Australia.