An Oregon based solar installation company was in high growth mode and needed $300,000 to refinance some high-rate loans. He has been pumping all his profits back into the business and because of that his profit in the most recent year of filed taxes was minimal.
With great credit, this loan was easy for Radix. While the borrower wasn’t eligible for the $300,000 all at once- he was eligible for 2 SBA Express loans of $150,000 each. We quickly funded $150,000 and then funded another $150,000 90 days later. Instead, of paying over $20,000 per month, he is paying under $4,200 per month- and his business is in a better position than ever before.
| Loan 1 Amount | $150,000 |
| Interest Rate (adj 6% + Prime) | 10.50% |
| Years | 10 |
| Monthly Payments | $2,024 |
| Yearly Payments | $24,2888 |
| Loan 2 Amount | $150,000 |
| Interest Rate (adj 6% + Prime) | 12.25% |
| Years | 10 |
| Monthly Payments | $2,174 |
| Yearly Payments | $26,086 |
Learn more about our SBA Express loan.
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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.