When a restaurant owner tried to consolidate $180,000 of high interest debt into a single note and borrow additional working capital, she could not find any banks willing to help. There were good reasons for her trouble: Her business grossed only $700,000 per year, her credit score was at the SBA minimum, and she had no real estate to offer as collateral.
Although traditional banks were of no help, this loan was tailor-made for Radix Financial Group. We excel at refinancing non-collateralized, high interest loans into a single long-term note, and helped this owner find terms that her restaurant’s revenue stream could support. We were even able to extend her business over $100,000 more of working capital than she had originally requested! While most banks wouldn’t even consider a straight refinance with no collateral, Radix saw opportunity in a profitable business and stepped in to help.
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Radix Financial Group and its affiliates are not lenders participating in SBA’s 7(a) loan program. Radix is a marketplace to help business owners obtain SBA 7(a) loans. Said loans are ultimately processed and approved by a lender participant in SBA’s 7(a) loan program.