The 2008 financial crisis hit small business owners hard, and none harder than those involved in the real estate industry. When a local credit union could not help a valued customer because of multiple short sales that occurred during the recession, it referred his real estate brokerage to Radix – just our specialty.
Bank declines do not have to lead to high interest rates. Radix believed that this potential borrower had built a successful new business after the recession and deserved a second chance. His company both cash flowed and had zero debt on its balance sheet. Further, despite his admittedly tumultuous history, the guarantor had managed to raise his personal credit score above 700.By focusing on the positive aspects of a financing request, Radix can often offer terms that are just as good as – if not better than – those available from most banks. In this case, Radix was able to put together a more attractive offer – ten years and 6.25% (with no prepayment penalties!) – than the borrower had ever hoped to find.
To learn more about the various financing options we offer, contact a Radix representative today.