Radix Finances Concrete Company in One Week

When a concrete company suddenly needed to buy a brand-new truck for $220,000, its bank declined to lend because the owners had mediocre credit. Although the bank graciously offered to reconsider its decision if the owners managed to raise their credit scores, they could not afford to wait. Thankfully, their loan officer suggested that Radix could provide a faster alternative.

BORROWER’S ISSUES

• The borrower had credit scores in the mid-600 range.
• The business needed funding as quickly as possible

RADIX’S SOLUTION

We had to get a little creative with this one. Because the borrower’s credit was low, Radix needed to identify a lender that was willing to take the truck itself as collateral. Considering these two factors, Radix was able to present this deal as a no-brainer, and we helped the concrete company on the road in less than a week!​