Small Business Spotlight

Employee Achieves his Dream of Buying Successful Blinds Business

Learn how an experienced employee at a successful blinds company was able to purchase the business he had worked at for over 10 years. 

Loan Amount


Loan Purpose

The Small Business

The Blind Place | Tyler, TX

The Financing Challenge

An experienced employee at a successful blinds business in Texas was looking to purchase the company he had worked at for over 10 years. The sale included over $3 million of undersecured exposure and a lack of collateral which made this a deal that not a lot of other lenders would have considered. The request was for 5% down from the borrower and a 5% seller note. While we were the first lender to provide a quote, the borrower initially opted to go with another lender for an offer that seemed a little too good to be true. Two months later, the borrower was back at our door as the other lender could not deliver on their promise. We had a very tight timeline on our hands with a couple of months lost, but we were able to execute and close the deal with our initial offer. We believed in the business with their excellent reputation and projections for growth. The borrower showed proven leadership with a strong desire to continue the success of the company.

SBA 7(a) Loan Scenario

Here's what our borrower brought to Ready Capital

Loyal Customers

An established business of over 40 years with a loyal customer base and exceptional online reputation.

Industry Experience

An industry experienced borrower with over 10 years at the current company and expertise in sales and blind installs.

Tight Timeline

A tight timeline, lack of collateral, and low money down.

Reliable Results

The Non-Bank SBA Preferred Lender 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 can’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.

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