Radix Finances $350,000 to HVAC Business Without Collateral

When the owner of an HVAC installation company applied for $350,000 of working capital, he was turned down by multiple lenders. Most banks are reluctant to lend so much to a small business without any collateralization. Compounding the potential borrower’s challenge, his personal net worth was low and his credit score hovered just around 660. ​

BORROWER’S ISSUES

• No Real Estate Collateral
• Very Low Personal Net Worth
• Mediocre Credit
• Need Money Quickly

RADIX’S SOLUTION

Despite the lack of personal or business real estate collateral, the borrower’s business was successful and – most importantly – profitable. Further, while his working capital needs were large, he could offer a detailed explanation for how he would use the cash infusion. While most banks focused on the borrower’s collateralization and scoffed at lending him so much cash, Radix looked at the overall picture and saw just how much the business stood to benefit from just such a boost.

Due to time constraints, this borrower did not want to undertake the SBA proccess, and Radix was ready to fill the void. We funded this borrower in just under 2 weeks, and put him on a 5 year term with minimal paperwork.

The borrower was blown away by just how breezy Radix helped make the process.