Credit profiles are critical within the construction industry, especially when tendering for work. It becomes a measure of a business’s financial health and stability, and organisations use it to gain valuable insights.
When you decide to tender for work, your credit ratings must be above the contract awarding body’s “hurdle rate” for you to be successful. Knowing and understanding your credit profiles should be the first step when considering tendering.
Discover how Lightbulb Credit can support you to tender for work
Lightbulb Credit works with businesses in the construction industry, supporting them to understand, improve and monitor their credit profiles. Due to current financial volatility, tendering for work is becoming increasingly common, Lightbulb Credit can ensure your business is equipped and set for success.
Lightbulb Credit is offering construction businesses a free Company Credit Insight Report, filled with detailed information about:
- How your business is rated by the UK’s key trade credit agencies
- Changes to your credit profiles in the last 12 months
- The risk bandings that your company is classified by
- CCJ data and additional data insights.
Typically, it will take 24 hours for you to receive your report.
Lightbulb Credit is the only company in the UK that checks your credit profiles across all key rating agencies:
- Dun & Bradstreet
- Red Flag Alert.
Once you are aware of your credit profiles, you can assess whether you need to improve them before tendering for work. With Lightbulb Credit’s Credit Improvement service, the “success fee” means that you do not pay a penny if they can’t improve your profile, it’s risk-free.
Founded in 2018, Lightbulb Credit has added 1.5 billion pounds to clients’ balance sheets. With bespoke solutions, including a free Company Credit Insight Report, Credit Improvement and Credit Monitoring, thousands of businesses have benefitted from Lightbulb Credit’s services.