The CreditSME Borrower Score is very different from a credit score assigned by credit bureaus that is based on publicly available information such as past insolvencies, court judgements and the number of loan enquiries. This information is also incorporated in the CreditSME Score but more importantly, CreditSME also draws on a wide range of additional company and industry information such as the most recent financial statements for the business.This additional information is essential in forming an accurate view on the credit profile of a business and will be reviewed by lenders when assessing a business loan application. 

The information required generate a CreditSME Score will typically comprise: 

• Financial Statements for the last 2-3 year period;
• Current year to date management accounts;
• ATO Portals for the last 12m (ICA and ITA);
• Recent month end aged debtors and creditors reports;
• Bank statements for the last 6m period.

There is no universal definition for what constitutes a small and medium sized business. The Australian Bureau of Statistics classifies small and medium sized businesses as those with 199 employees or less though in other regions this can be as high as 500 employees. In the EU, SME’s are defined as companies with up to 250 employees and up to around $75 million (A$ equivalent).