Radix Finances $64,000 to Help Day Care Pay Off IRS

A well-run and profitable family-owned day care fell behind on its taxes. No local bank was able to help, but just as husband and wife owners were about to give up hope, a banker who had previously declined to help gave them some good advice: he put them in touch with Radix.​

BORROWER'S ISSUES

• The business owed back taxes in excess of $120,000.
• The borrowers could not offer any form of real estate collateralization.
• The borrowers needed the funds quickly, before a tax lien decimated their personal and business credit.

RADIX'S SOLUTION

While the couple was able to borrow $60,000 from a close family member, that still left them $64,000 short of saving their business. Thankfully, because the IRS had yet to put a lien against their business, the borrowers’ personal credit remained above 700. That afforded Radix a good amount of operating room.
In fact, Radix was able to help the borrowers secure $64,000 interest-free for the first 12 months, an amount that will allow them to settle what they owe the IRS as quickly as possible.

​To learn more about the different financing options we offer, contact a Radix representative today