Small Business Spotlight
IT company partner buyout with no money down
When business partners part ways, financing should not only honor their accomplishments but set them on a path to near-term growth.
The Small Business
The Financing Challenge
When it was time for his partner to retire, the co-owner of a Plano, Texas-based IT company came to Ready Capital. He had goals for growth, and he’d been through a partner buyout before. But transitioning to the next chapter from a place of strength hinged on reaching the right loan terms.
Here's what our borrowers brought to Ready Capital
Shortfall since much of an IT company’s product is in the cloud
Unexpected issues with business valuation
Debt in need of refinancing
Ready Capital was able to focus the story of the loan on the borrower’s strengths: a healthy number of contracts and proof of their in-place expansion.
The Non-Bank SBA Preferred Lending Partner Difference
A small business loan is not an empty box like a checking or savings account. No two small businesses are alike when it comes to their financing needs. This means that small business financing requires out-of-the- box thinking and capabilities many banks simply don’t offer.
Ready Capital is a non-bank, SBA preferred lending partner (PLP). We speak fluent small business and have the process in place to help them reach their goals the first time.