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Radix Finances $3400,000 for Beauty Salon

1/2/2020

3 Comments

 
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When the owner of a beauty salon wanted to expand, he reached out to request $200,000 he would invest in marketing,new employees and a revamped website. He also wanted to refinance about $140,000 in high interest debt. Most banks are not willing to lend so much capital to a small beauty salon without any collateral, but at Radix, we saw the business owner’s potential and decided to work with him.​

BORROWER’S ISSUES

  • Large Working Capital Request
  • ​No Real Estate Collateral

RADIX'S SOLUTION

Final approval for this loan was difficult to obtain. Despite strong profitability and a good credit score, $200,000 in working capital is a very large request for a small, independent salon. However, after the business owner and Radix were able to collaborate on a short, simple and sensible use of proceeds plan, his request was soon approved. Thanks to Radix, the owner projects to double his revenue over the next two years. We could not imagine a lovelier outcome. 
3 Comments
Weareseos link
12/4/2021 11:41:40 am

Thank you for sharing your great post!

Reply
Roofing Companies Daphne Al link
12/6/2021 01:06:19 pm

But now, with so much more competition in the beauty industry, and so many expectations for sharing a unique brand on social media, most beauty salons are stepping up their game.

Reply
consumer goods crm link
8/30/2022 03:14:16 pm

Thank you so much for sharing your article. I have found it extremely helpful! I really enjoy reading your posts where I can get such useful information. Thanks for all your advice. It’s invaluable!

Reply



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  • Home
  • Financing
    • Working Capital, Debt Refi and Consolidation
    • Commercial Real Estate
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  • Recent Closings
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