We’re thrilled to announce a new initiative aimed at enhancing the financial health of builders across the industry. In partnership with Master Builders, we’re launching a tool that provides a comprehensive financial rating for builder members, going beyond traditional credit history.
This initiative seeks to promote resilience in the construction sector, helping businesses maintain sustainable practices and thrive even in challenging times. Our new rating will assess key financial metrics including P&L and Balance Sheet performance, offering builders a platform to showcase their financial robustness to clients, lenders, and partners.
CreditWorks CEO, Phil Ashby, emphasised our approach to maintaining confidentiality while providing valuable insights for lenders.
“The way that we’re building it with the data not being granular enough, it will give enough to the lenders to satisfy them and hide enough to satisfy the builders.”
“We’ll still keep our transactional score, which is your day-to-day credit behaviour, but we’re then talking about a score based on their profit and loss, and balance sheet.”
This initiative builds on our existing tools, including CheckMate, which allows users to assess the financial health of any company in New Zealand.
Stay tuned for more updates on this exciting new tool, as we continue to empower builders and strengthen our industry!
If you’re a subscriber of Business Desk you can read more about this new initiative here.