Getting money to start or grow a business can be difficult. Radium2 Capital is one company that has focused on simplifying the process. Troy Caruso, the CEO of Radium2 Capital, understands the struggle people go through at times. That is why his focus has been on helping many different types of businesses reach their goals.
How exactly does Radium2 Capital work? Can any business benefit from their services? We get into that and more in the interview below.
What led to you being the CEO of Radium2 Capital?
As a businessman myself, I saw firsthand exactly how tough it was to get working capital at times. It was definitely rough, especially when I was first starting out. Getting a loan from a bank or other financial institution was very difficult, and they didn’t seem to be that willing to work with me.
More people than ever are starting businesses these days, and it is simply impossible to wait weeks and weeks for money to be finally sent over. Radium2 Capital focuses on speed, customer service and overall care.
Do you face any struggles being mostly an online company?
It seems like it really depends on the type of client applying for assistance. Some of the younger business owners out there are used to doing a lot of things online anyway, so this is not a big deal at all. Those who did not grow up in the Internet age might be hesitant at first, but we do focus on answering all their questions before hand. Transparency is the key, especially since some people can be worried about potentially getting scammed online.
What type of businesses benefit most from your services?
We really have no specialization when it comes to working with different types of companies. As long as the person has a good business plan put together, there is an opportunity to have success in any field.
In the last decade, we have basically worked with every type of business imaginable. The one common theme in business is that it usually takes money to make money.
What advice do you give people who do end up using your services?
Try to put together a realistic budget before contacting us if at all possible. Some people can get themselves in trouble by applying for too much money. Since a person gets approved for that much money, they will end up over spending on things that they really do not need.
As long as the person has a set budget, the money can go a long way. The good news is that more often than not, people are pretty responsible.
What do you do with businesses that struggle early on?
We operate by purchasing a small amount of future sales, advancing money based on that. Since that is the case, we completely understand that it can take some time for a business to take off.
The payment plan is totally dependent on how much money a business is bringing in. If the business underperforms early on, the monthly payment is going to be low. This is to make sure that no business owner we work with falls behind.
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