When a seafood exporter was unable to obtain traditional financing, its owner took out a three-year loan at 15% interest. After so many banks had declined the business, the borrower came to believe that a business like his could never secure traditional rates. So when Radix contacted him just one year later to explain that he was a perfect fit for our rate-cutting program, he could hardly believe it.
Radix specializes in refinancing borrowers with high interest rates, and this exporter was right in our wheelhouse. While most banks prefer to work with businesses that can offer collateralization, Radix can offset a business’ lack of collateralization by focusing on its cash flow. In this case, Radix was able to both cut the business’ rates from 15% to 8% and lengthen its term from three years to ten (with no prepayment penalty). The borrower went from paying $5,545 a month to just $1,446, overnight -- that adds up to a savings of $50,000 a year!
Find out how you can cut your rates too. Contact a Radix representative today.