About the Business Credit Application Checklist

This excel-based checklist is a ready-to-use template that helps you standardize your customer credit application with the most necessary parameters that your credit teams require to accurately evaluate the creditworthiness of a new customer.

All 66 parameters fall under the following fields of information:

  • Applicant’s Information
  • Form of Business
  • Credit Extension
  • Applicant’s Certification
  • Applicant’s Authorization
  • Terms And Conditions

This free excel checklist makes “having a Best-in-Class Credit Application” easy for you. Just download, check the parameters and optimize your current credit application!


Business credit applications are used by trade credit teams to review the customer’s creditworthiness. The customers fill up the credit application with their necessary business information. Credit applications can be online or paper-based.

Once a customer fills out a credit application, the credit team will pull the customer’s credit reports/scores from leading credit bureaus such as D&B, Experian etc. Credit analysts will use this credit profile and other factors, like applicant’s gross profit or debt-to-equity ratio, to determine if the applicant meets your business conditions and thereafter onboard the customer.

You can onboard customers faster across the globe with a paper-less, online credit application. This web and mobile-based credit application can be configured in multiple languages. It requires minimal effort from your customer’s end as the online credit application is pre-filled by the Sales teams or by auto-extracted customer data from CRM tools.

For new customers, the credit score is calculated with the help of the following steps:

  • Aggregate credit data for the new customer from credit agencies and credit groups you trust (like D&B, Experian, Equifax, CreditSafe, NACM).
  • Based on the credit policy, assign weightages to various parameters of the customer credit application and credit agency ratings.
  • Apply the credit data in your scoring model to get the respective credit score, risk class, and credit limit.

Credit Application Checklist

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