Radix Funds $1.6M for Property Acquisition, Debt Refi & Working Capital for Small Law Firm

When the owner of a successful law firm wanted to purchase an office building for $1,350,000, he turned to Radix for help. He did not want to put all of his free cash into a down payment and drain his working capital reserves — especially when he already had $112,000 of high-rate debt on the books.

BORROWER’S ISSUES

• Limited capital
• Worried about overextending
• Existing high-rate debt

RADIX’S SOLUTION

This type of transaction is Radix’s bread and butter. Not only were we able to help this lawyer purchase the building, which saved him thousands of dollars per month in rent, we were able to refinance his earlier debt. 

Radix even helped this borrower secure an additional $360,000 in working capital, all in the a single transaction! At the end of the day, we funded $1,685,000 – including only $135,000 as a down payment. This borrower ended up with more than double the working capital than he originally put in. While most banks won’t fund over 100% LTV for a commerical real estate loan, at Radix, it is one of our many specialties through our commerical real estate SBA 7a loan program.