An equipment line of credit from
Stars and Stripes Financing provides quick access to funds for purchasing equipment or covering equipment-related expenses, such as repairs or maintenance. Unlike an equipment loan, where payments are due every month, an equipment line of credit only requires repayment on the amount you draw, plus interest. There are no costs for funds you don’t use.
To better illustrate this, let’s assume your business is approved for a $100,000 equipment line of credit, meaning $100,000 is the maximum amount you can draw at any time. If you access $20,000 of this amount, your available credit amount will drop to $80,000, and you will owe $20,000 plus applicable interest on your next billing period.
- Equipment credit lines up to $10 million
- Unsecured—no collateral required
- Simple online application
- Competitive rates
- Only pay for what you use, plus interest
- Minimum two years in business
- Three months’ business bank statements
- Favorable payment history