What you’re looking for is essentially a credit rating agency. There are a number of agencies that provide these services for SME, Dun & Bradstreet comes to my mind for example. Of course, they analyze financial statements only, and mostly automated. As far as I know, they don’t account for non-financial (but nonetheless very important for financial stability) issues like quality and honesty of management, and the commercial side of the business. Especially in the long run, things like the competitive landscape in the region matter more than e.g. the liquidity on the last period’s balance sheet.
The key would be to integrate all of these parts – look at the financial statements, but also make on-site visits, talk to management, research competitors, and read third parties’ reviews of the operational quality. I have the feeling that the costs for all of these procedures would surpass what individual clients would be willing to pay for a report.
Nonetheless, I like this idea a lot. Thanks for sharing the idea. I’ll keep thinking about it.