An IRS Tax Balance Didn’t Stop This Basketball Academy From Getting a $150,000 SBA Loan

Q: Can I get an SBA loan if I owe back taxes to the IRS?

A: Through one of our partner SBA preferred lending banks, Radix Financial Group was able to secure a $150,000 SBA 7(a) working capital loan for a youth basketball academy despite an outstanding IRS tax balance on a payment plan.

Here’s how it worked…

A youth basketball training academy in Central Illinois grew from one court to three — more athletes, more coaches, more demand. With that expansion came higher facility and operating costs under a new lease, and the seasonal ups and downs of a sports business.

The academy had grown without ever using traditional business financing. Now it needed $150,000 in working capital: to smooth out cash flow during seasonal swings, bring on and keep good coaches, invest in marketing, and keep growing.

There was one more wrinkle: an outstanding IRS tax balance, on a payment plan. Most lenders see tax debt and walk away.

Through one of our partner SBA preferred lending banks, Radix Financial Group was able to secure a $150,000 SBA 7(a) loan, giving a growing academy the capital to build a stronger financial foundation.

If a tax balance is standing between your business and the funding it needs, it may not be the dead end you think. Talk to us at radixfinancialgroup.com.