Sector: Hospitality
Headlines
- Client needed to raise finance for growth
- Scores had been impacted by Covid-19 backdrop
- A lack of current data due to exempt accounts was also affecting their score
The situation
This business was looking to raise finance to open additional restaurants in the Glasgow area. Their low credit rating with Experian was holding them back from accessing the finance they needed to grow.
Their score had been impacted by sector related downgrades due to the Covid-19 back drop. They had also filed exempt accounts meaning the business was being judged on a 9-month-old view of their balance sheet.
Unlike many businesses in the sector, they continued to trade through Covid-19, expanding their offering through a delivery service and DIY home pizza kit.
What we did
Lightbulb Credit were able to share the businesses full, provisional and YTD statutory accounts which demonstrated their current positive trading activity, without this forming part of their publicly viewable data.
The outcome
In just 5 working days the credit improvement process was completed and significantly improved their credit rating and limit with Experian, taking them from the maximum risk category to low risk.
This immediately opened up their options to a panel of funders.
| Old Credit limit: £0k | Old credit rating: 5/100 |
| New credit limit: £21k | New credit rating: 89/100 |
Corporate credit improvement service
Our credit improvement service provides businesses with a solution to improving their trade credit rating. The process is simple and fast, with improvements regularly achieved in a matter of days. The service is also completely risk-free as the business only pays on agreed results and clients have the reassurance that all cases are handled with complete confidentiality.
Get a FREE no-obligation company credit insight report
Click the button below to complete a short form and we will send you a copy of your (your client's) report to the email address provided.
