The mobile-first product has been designed to help SMEs minimise their exposure to credit risk by providing real-time data-led insights.
Credit rating app Credifolio has launched to provide free business-to-business (B2B) credit scoring for Uk businesses.
The mobile-first product has been designed to help SMEs minimise their exposure to credit risk by providing real-time data-led insights, using best in class data sources and enhancing information for the unique circumstances presented by COVID-19.
Martin Alderson, CEO at Credifolio, said: “The majority of businesses rely on steady cash flow to remain viable, yet most SMEs are flying blind due to a lack of simple, high-quality credit risk data that is not easily accessible”.
"Credifolio will make it quicker and simpler to get the critical information credit reports contain so businesses can trade more safely in these unprecedented times."
According to the FSB (Federation for Small Businesses), small businesses account for over 99% of all businesses, three-fifths of employment and around half of private sector turnover (£2.2trn) as stated by .
And according to to Opinium, four in five (82%) decision-makers in UK SMEs are worried about the impact the coronavirus crisis will have on their business, with broadly similar levels of concern across all sectors, business sizes and areas of the UK.
Customers wishing to access the service can visit: https://www.credifolio.com and download the app via the App Store or Google Play to receive three free checks.
