Quite often there is a lack of knowledge about rating according to Basel II in small and medium-sized entities (SMEs), and the decision making process for taking out a loan is therefore frequently deficient. The so-called rating counselor, which is a joint initiative by several business associations and the KfW Mittelstandsbank, is to provide information on the importance of rating in the loan assessment by banks. Furthermore it shows how companies can improve their rating and influence credit terms.
Furthermore the new tool informs about whom to turn to within the several business associations in order to receive information on this subject matter. It also provides links to web sites which inform about the issue of company financing. The new rating counselor provides practice oriented support in particular to small and medium-sized entities. An overview of free online rating tools for self assessment rounds off the features of the new tool in question.
This new tool is available on the website of the KfW Mittelstandsbank.