Corporate Credit Profile Management


Pula-Medupe facilitates the process to create a business profile for start-ups, and assists management in managing this profile to achieve maximum returns for the organisation. A business is usually a separate legal entity and as such should have its own identity separate from its owners, consequently, the same applies to its credit profile.

A credit profile is a document which provides information about someone's credit history. Credit profiles are used by lenders and other agencies which offer credit to determine someone's creditworthiness, and they are also utilized by prospective landlords and other people who might have an interest in someone's credit history. A good credit profile will make it easier for someone to access credit, and a bad credit profile can become a major stumbling block.

The profile includes a complete history of the credit accounts someone has open or has held in the past, along with information about their limits, the balances carried on them, and the person's payment history. The maximum ever carried on each account will be listed, as will information about late or incomplete payments. Old accounts are eventually dropped from a credit profile after a set number of years, classically seven.

People who are just starting businesses should take steps to create a separate business profile. This ensures that personal credit black marks will not count against the business, and it can generate access to business loans and other types of accounts which are only open to businesses, not to individuals. Both business and personal profiles should be regularly review for errors, and if errors are identified, a request for correction should be filed.

It is unavoidable that the conduct of the leadership of an organisation will affect its business, however, a separate, well managed credit profile ensures the organisation can rely on its corporate performance to be able to seek funding and other facilities to conduct its business.

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