A lender is also at risk.
Because the lender lacks access to information
regarding the borrowing and payment habits of a
prospective borrower as it relates to other
lenders, the decision to lend is based entirely on
the lender's personal experience with the borrower
or the collateral provided or both. This creates
huge gap for risky transactions to slip through.
Having knowledge of the various borrowing
transactions of a credit seeker is a decided plus
for a lender. Sometimes a lender can expand her
clienteles to include profitable transactions that
otherwise would have been rejected.
Credit Reports captures the
entire credit reporting picture of a person or
organization. We solicit and record credit
extensions and transactions made to individuals or
organizations by lenders, such as Banks, Consumer
Credit Firms and Organizations, Insurance
Agencies, Wholesale and Retail Firms, Traders and
Artisans, Landlords, etc.
We then provide online
clearinghouse for lenders to check the credit
history of prospective borrowers, and for
individuals and organizations to keep track of
their credit record.