Radix Helps Construction Company Expand with $450K Business Acquisition Loan

A family owned home building company wanted to expand by purchasing the assets of a recently out-of-business competitor. The husband and wife needed $350,000 to achieve their goal, but their local bank turned them down.

BORROWER’S ISSUES

• The business needed funding in 60 days
• ​No Real Estate Collateral
• The sale was asset only
• Credit was mediocre

RADIX’S SOLUTION

Radix loves to help businesses grow, especially when the deal is as simple and obvious as this one. Our borrower needed $450,000 on a ten year term, and this was a perfect fit for our SBA Express product. The borrower got us all of his paperwork quickly and we were able to fund in only 30 days! When local banks can’t help, Radix can.

Terms:

Funded: $350,000

Interest Rate: 2.75%+ Prime

Monthly Payment: $4,821

Funding Time: 4 weeks