LightStream offers an easy interest loan, with an interest rate that is fixed. Simple interest accrues on a regular basis, on the basis of the unpaid major stability. Which means that with every re re payment, you shall reduce interest accrued, then the rest would be used towards principal.

While you are authorized for the LightStream loan you have got thirty days to really have the funds transmitted to your account. As soon as 1 month have actually passed away, the program will expire and you also will need certainly to re-apply for the loan.

Can I have that loan if we operate in a cannabis associated industry?

As a result of the status that is illegal of under federal legislation, and regulatory limitations on banking institutions, SunTrust will not accept earnings this is certainly produced from the cannabis industry (wholesale and retail suppliers, dealers and/or growers of marijuana) with its loan underwriting choice. Borrowers may also be not allowed to utilize loan profits for just about any task considered unlawful under state or law that is federal.

Just exactly What limitations are there any as to how the proceeds can be used by me of my loan?

You have to make use of your loan profits for the loan function which you selected in your application for the loan.

In addition, take note that:

• You might not make use of your loan proceeds to refinance a lightstream loan that is existing.
• We’re presently not able to offer loans for the financing of university or post-secondary expenses that are educational or refinance loans that have been useful for such purposes. (more…)