Funding a mobile bartending company despite high rates

Nobody wanted to help a Florida based mobile bartending company obtain affordable rates-despite his amazing, growing business. This business had two high-rate loans, taxes owed, and a negative global debt service ratio. The broker who funded the 2 MCAS contacted Radix and asked if we could help refinance the payments- of course, Radix was able to help.

Anatomy of a loan:

• $590,427 Revenue in previous year
• $149,449 Profit in previous year
• $57,772 Taxes owed in a payment plan
• 2 Merchant Cash Advances Totaling Over $300,000
• 690 credit score

Radix’s Solution

Radix has a ton of tools to help small businesses. While traditional banks see a lost cause, Radix sees great opportunity. We saw a strong, growing business with year-to-date numbers far eclipsing the previous year’s revenue and profit. We were able to refinance all of the debt and even add almost $200,000 of working capital on top of the refinance. Before our loan, this borrower was paying $9,423 per month. After, he was paying $6746 per month.

Learn more about our SBA Express loan.