When the owner of a Health and Wellness Center contacted Radix to refinance $120,000 of high interest debt and obtain additional working capital, he had already been turned down by three local banks for a Small Business Administration loan. He was wary of wasting more time and was very skeptical Radix could perform any better than the banks were not able to help him.
We were happy to explain that Radix is different from your typical bank. While most banks require strong collateralization, Radix can help businesses without any assets obtain very affordable rates. Once the borrower understood what separates Radix from his other options, he became eager to proceed as quickly as possible. He submitted all of the documents we needed within one week, and we were able to close the loan just one more after that. The borrower was delighted by how quickly we were able to help him save money and secure the funds he needed to expand.
With over $200,000 of extra working capital in his pocket, he is still paying $1,800 less than he had been to the high rate lenders.
To learn more about the different financing options we offer, contact a Radix representative today.