ICIL Local Business Information
Local Business Information Reports
Banks business information reports for different usages and to make credit decisions for different types of lending. ICIL business information reports for credit decision support are based on SBP prudential regulation for corporate, commercial, SME lending and house financing. ICIL business Information report used by banks to complete loan documentation are called registered charge search report, besides registered charge search report, ICIL also provides other information available in public domain from SECP. ICIL also helps its customer charge registration service.
Corporate Sector use ICIL business report for its customers/distributor and supplier due diligence and to determine credit terms for its customers ICIL local business information reports also help in mitigating credit risks. ICIL has been providing business information service for over 20 years so it already has sizable business information database of large number of existing borrowers of different banks. ICIL have experience business analysts in located in ICIL branch offices in all major industrial and commercial cities who personally visit new & existing borrowers to collect new data or to update its business information reports. ICIL’s local business information report service comprises of following:
- Registered charge search report
- Local business information reports
- SME report
- Market checking report
- Charge registration services
- Income estimation report
Registered Charge Search Report
ICIL uses a software to undertake ranking of charges (bank wise, security wise, date wise) and deliver its report online to its customers.
Local Business Information Report
This is business information report on Pakistani companies. It covers in-depth analysis on its quantitative and qualitative aspects which a credit manager uses to make decisions.
SME Credit Report
As the unorganized sector lacks proper record keeping, ICIL has designed its SME Business Report based on Prudential Regulations. To effectively meet the SBP’s PR requirements, ICIL’s SME reports briefly discuss:
Key drivers of the business.
Key risk and risk mitigates.
Besides, as court notices represent an important factor in the risk profile of a company or its Proprietor, Partner and Director, ICIL’s SME reports also include Court Notices Check from ICIL’s Court Notices database. Based on above, the Credit Managers use to make decisions.
With Basic Financial Estimations:
With SME Reports, ICIL will also conduct a financial data verification exercise i.e. the data being submitted by the borrower will be verified using Quassi audit procedures. For example sales figure from the P&L will be verified by going through invoices, receipts, and sales tax documents. Besides, during situations of non-availability of financials, ICIL analyst will also carry out financial estimations based on the inspection of underlying records such as transaction registers etc. All the other contents of the Local BIR will be included in the SME Report.
With Cash Flow Analysis:
ICIL can include future cash flow analysis in the SME reports. The method of the future cash flow analysis will be scenario based and will require a pre-determined methodology, which the bank will give consent to.
Market Check Report
These reports contain results of interviews with market sources and their opinions on a company’s payment habits, business dealings, etc. ‘{While conducting this report business analyst / investigator does not contact the subject company contact is only made with customers, suppliers’ tee. This report is conducted for large corporate customers of financial institutions where meeting with senior financial controllers are difficult.
Charge Registration Services
ICIL’s public record team has also developed expertise to register loan documents at the SECP offices. Whether it is a registration of a charge (Form 10) or modification (Form 16) or a satisfaction (Form 17), ICIL has the relevant expertise to provide efficient registration service.
Income Estimation Report
This is a reporting service in which ICIL analysts conduct verification exercise of the income and expenditure of a Small Business (SME’s) usually Proprietorships and Partnerships. When a Bank obtains a filled loan application form from a prospective borrower, an exercise of verification is conducted. The process includes site visit to the premises of business, verification of statements and documents, verification of personal expenses and wealth, cursory checks, and observations etc. The Report involves adopting Quasi-Audit procedures and Due Diligence.