When walking into a bank, many borrowers think that financing will come easily. After all -- with decent credit and good cash flow -- what could go wrong?
This was the exact trap that a restaurant operator fell into when applying for financing that would allow him to keep up with his business’ rapid growth. After being turned down by four separate banks, the borrower, was thankfully referred to Radix, and it was not long before the working capital he needed was safely in hand.
,While those four banks warily looked at the business’ recent loss and then rapid expansion, Radix saw the expansion for what it was: a healthily growing business. This restaurant operator had made a significant investment by expanding his operations to include catering, and that second arm of his business was really taking off.
Radix solved this restaurant owner’s problems swiftly and with ease. Using minimal documentation, we were able to offer funds through our term loan program – $100,000 over a three year fixed term.
To learn more about the different financing options we offer, contact a Radix representative today.