Case Study: Snap-on Credit LLC achieves a 5–10% increase in approvals while limiting risk with Experian BusinessIQ

Snap-on Credit LLC - Customer Case Study

Snap-on Credit LLC, a financing subsidiary of Snap-on Incorporated, provides leases and loans for tools and shop equipment primarily to small auto-repair businesses and larger dealerships. Facing a wide range of credit quality after the economic crisis and limited information on many small-business owners, the company needed sharper risk assessment and better data to raise approval rates 5–10% without increasing losses.

Snap-on consolidated its credit data providers onto Experian’s BusinessIQ platform to manage the full credit lifecycle. Using Business Owner Profile, Business Premier Profile and alerting tools, the team gained clearer insight into owner and business behavior, improved monitoring and responsiveness, and confidently increased approvals by 5–10% while keeping risk exposure and potential losses under control.

Snap-on Credit LLC

Steve Spinozza

Vice President of Credit