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What is CIBIL MSME Rank

TransUnion CIBIL is renowned for its role in helping banks and lending organisations assess the financial and credit background of borrowers. While the company has long been providing the credit ratings for individuals who wish to borrow funds, it introduced a similar system for Micro, Small and Medium Enterprises (MSMEs) in 2018.

 

The CIBIL MSME Rank (CMR) helps banks, financial institutions and other legal lenders to assess the financial history of an MSME and evaluate its creditworthiness. These MSMEs are ranked from 1 to 10, where the CIBIL MSME Rank 1 represents the maximum creditworthiness and depicts the customer least likely to default on their loan.

Several MSME loans have been known to go bad owing to a variety of reasons, wherein the MSMEs have borrowed a significant amount from the bank and are unable to repay it owing to their own economic uncertainties or problems. This has given rise to the need for a universal ranking wherein banks and other lending institutions can easily assess the borrowing company’s creditworthiness before issuing the loan. MSME loans can now be availed very easily, with the best MSME loans including the Bajaj Finserv Business Loan, now available on Finserv MARKETS. The loan not only allows companies to borrow up to Rs. 30 Lakhs to meet their working capital requirements, but also enables flexible repayment options ranging over a period of 12 to 60 months. Since there is no requirement for collateral in availing this loan, the processing of the loan happens very fast wherein your MSME loan application can be approved in as little as 3 minutes. 

How is CIBIL MSME rank calculated?

To calculate this score, algorithms are being used which have been based on the MSME’s credit history data. The TransUnion CIBIL is provided this data as shared by banks and other institutions, which it then uses to predict the chances of an MSME loan turning bad within the next 1 year. 

With a high enough CIBIL MSME rank, companies can opt for the best business loans available to them. Apply for a Bajaj Finserv Business Loan available on Finserv MARKETS. On Finserv MARKETS, loans of up to Rs. 30 Lakhs can be approved within 3 minutes. This loan can help you meet your business’ working capital requirements with the utmost of ease by letting you buy or repair machinery and even purchase raw materials required for your business.

Similar to how a CIBIL score helps banks, financial institutions and other lending organisations easily assess a borrower’s creditworthiness, the CIBIL MSME rank aids these institutions in gauging an MSME’s financial health before handing over an MSME loan.

Features of CIBIL MSME Rank

Like the CIBIL score for individuals, the CIBIL MSME rank is also calculated with a lot of care. Read on to learn its different features, which make it invaluable for banks and other lending organisations.

  1. This credit risk rating is able to predict the possibility of an MSME turning into a non-profitable asset (NPA) within the time period of a year.

  2. The CIBIL MSME rank only comes into play for MSMEs that have aggregated commercial borrowings which range from between Rs. 10 Lakhs to Rs. 10 crore.

  3. To ensure the algorithm’s accuracy, the CIBIL MSME rank is trained with data of over 7 years which includes through-the-cycle (TTC) credit history, using machine learning algorithms.

  4. For any particular MSME, its CIBIL MSME rank is calculated on the basis of its credit history for the last 24 months.

Benefits of CIBIL MSME Ranking

There are several benefits that the CIBIL MSME Ranking has brought about for banks, financial institutions and other lending organisations. Read on to learn what these are.

  1. It allows banks to make objective lending decisions, when an MSME approaches it for an MSME loan.

  2. The CIBIL MSME Rank allows banks to ensure a faster underwriting process through a pre-decided threshold investment rank.

  3. Since it enables banks to assess the creditworthiness of an MSME through a set rank ranging from CMR 1 to CMR 10, it allows for a standardized risk management process.

  4. Banks and lending institutions can build and also implement effective business strategies, which allow them to minimise risk by planning in advance.

A high CIBIL MSME rank is beneficial for MSMEs as well. Similar to how individuals with high CIBIL scores can easily avail loans owing to their high creditworthiness, a high CIBIL MSME rank ensures that MSMEs are never stuck for a lack of funds.

MSMEs can now opt for top MSME loans, such as the Bajaj Finserv Business Loan, available on Finserv MARKETS. With Finserv MARKETS, your business  loan can be approved in 3 minutes and the money can be credited to your account in as little as 24 hours. If that’s not enough, getting a business loan is  even easier as there is no need for a collateral.

Bajaj Finserv Business Loans can be used to meet working capital requirements of your business and repaid over a flexible tenure ranging from 12 to 60 months. When you have a business loan with minimal documentation, instant approval and flexibility from a trusted provider, you needn’t look anywhere else.

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