Singapore Commercial Credit Bureau (previously “SME Credit Bureau”) was officially launched on 21 March 2005 by Dr Vivian Balakrishnan, Minister of Environment and Water Resources. It became operational in 1 September 2005.
Aimed at promoting greater credit and information transparency in Singapore, Singapore Commercial Credit Bureau (SCCB) is a 24/7 online repository of company and business information including Registered Charges, Directorships, Litigation, Bankruptcy, Winding Up and Payment, to name a few.
Using an online access Bureau Platform, SCCB caters to Members seamless extractions of Commercial Credit Reports and other bureau related functions, through a Web based browser program. Armed with a more concise credit profile of their business partners, it would then make it easier to assess the creditworthiness of the companies in the course of granting credit, accepting business guarantees or corporate recoveries, as well as better assessing profitable business opportunities.
SCCB is positioned as an initiative to move the credit environment into the next step, by getting businesses to adopt information transparency, thus fostering stronger credit responsibility, which in turn encourages lenders to free up more funds for the business community.
Available information enables lenders to better manage risk thus increasing lending volume and encourages credit extension to underserved segments of the borrowers market – SMEs. Collating credit information also allows borrowers to develop positive payment histories or reputation collaterals that can be used for securing future loans at possible lower rates of interest.
Singapore Commercial Credit Bureau (SCCB)
Address: 6 Shenton Way,
#17-10 OUE Downtown Two,