When a beautiful hotel along the Washington Coast was turned down for a $1,207,000 refinance by multiple financial institutions, one of the bankers who declined the loan was thoughtful enough to pass the co-owners’ information to the Radix Financial Group. The loan perfectly fit our criteria from the get-go!
Despite the borrowers’ troubled financial past, this deal was a perfect fit. The property was in a beautiful location and thanks to the owners' industry experience, the business showed a healthy profit every year. The LTV was high, but thanks to the SBA (Small Business Administration) guarantee, we were able to offer financing up to 90% LTV at the low rate of 6%. Of course, most traditional lenders would not touch a specialty purpose property at 90% LTV, but thankfully, Radix is not a traditional lender.
To learn more about the different financing options we offer, contact a Radix representative today.