Frequently Asked Questions
What is a unified credit score?A unified credit score is a comprehensive assessment that combines multiple financial metrics into a single score. This score provides a clear view of your business's creditworthiness, making it easier to understand and manage.
How does Worth create a unified credit score?
Worth creates a unified credit score by integrating various financial metrics such as payment history, outstanding debts, and financial performance. This holistic approach ensures an accurate and comprehensive assessment of your business's creditworthiness.
Why is a unified credit score important for my business?
A unified credit score is important because it provides a clear and comprehensive view of your business's financial health. This helps in securing funding, building trust with partners and clients, and making informed financial decisions.
What metrics are included in the unified credit score?
The unified credit score includes metrics such as payment history, outstanding debts, credit utilization, financial performance, and other relevant financial indicators. These metrics are integrated to provide a comprehensive assessment.
What role does the unified credit score play in building trust?
The unified credit score plays a crucial role in building trust by providing a transparent and comprehensive view of your business's financial health. This transparency reassures partners, clients, and lenders of your creditworthiness and reliability.
What are the Worth score ranges?
High Severity (0-550): Scores within this range indicate a high risk. Entities with these scores might have serious financial issues such as defaults, multiple late payments, bankruptcies, or other negative indicators. They are considered less likely to fulfill financial obligations reliably.
Medium Severity (551-699): This range signifies moderate risk. Entities here have a fair credit history, with some potential problems but nothing as severe as those in the high severity bucket. They might have occasional late payments or other manageable financial issues.
Low Severity (700-850): Scores in this bucket are associated with low risk. Entities with scores in this range are seen as highly reliable and likely to meet their financial commitments. They typically have a strong history of timely payments and stable financial behavior.