What is credit rating? Creditworthiness is the ability of a borrower to repay the loan taken out in good time. Especially in banking. Because every requested bank checks before granting the requested loan whether the prospect will be able to repay the desired loan together with all due interest due to its current financial situation. There are also special organizations that collect data on the solvency of different people and organizations and also disclose them at the request of, for example, banks. And they also operate with this term. What else is there to say about this term? Decisive for the classification of the respective prospect as creditworthy is usually…
Credit-worthiness bank checks before granting the requested loan
