The first step is always to produce our FREE Credit Insight report that reveals the ratings of the Company at all the key trade credit agencies in the UK, including:
• Creditsafe
• Experian
• Equifax
• Red Flag Alert
We then arrange a FREE 15-minute meeting with the client. This meeting enabled us and the client to identify the specific issues creating the problem, which opened a discussion about the client’s needs, and most importantly how together we could find a solution and solve their problem.
It became clear that the poor credit rating was based on outdated information. Consequently, Lightbulb provided the clients detailed, financial data, with the agency in question, along with an up-to-date view of performance (We can do this without this forming part of their publicly viewable record). This new, information was all the credit agency needed to produce a positive review which resulted in a healthy credit rating high enough to ensure the funding application could proceed and at a competitive rate.
Moral of this case study is – Up-to date financial data is critical for an accurate credit rating, if the agencies do not know the facts, they cannot post positive ratings.
