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Streamlined Business Loans

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Interested in a Streamlined Business Loan?

 

Built for businesses that move quickly.

Our Streamlined Business Loan products are a great option if you're looking for a quick approval and fast access to cash to achieve your business goals. We offer term loans and lines of credit up to $500,000.

 

Our Streamlined Business Loan options:

Working Capital Line of Credit

A revolving line of credit provides a source of extra cash to meet short term business needs.

Typical borrowings on the line of credit might peak during slow months when cash inflows are low and then be paid back down during busy months when cash inflows are high. As you borrow on the line, you’ll only be billed for the interest that accrues, with the expectation that you’ll make principal payments as cash comes into the business. When the balance goes down, the availability goes back up. That’s why it’s ‘revolving.’

  • Terms: Up to 24 months
  • Fee*: $300-$500

Equipment Loan

Term loan to purchase a new piece of equipment.

Send us an invoice with the loan application and, if approved, we’ll cover up to 80% of the cost. The term of the loan will be tied to the useful life of the asset, so that it can help your business generate the cash needed to pay back the loan.

  • Terms: Up to 84 months
  • Fee*: Up to 0.75% of loan amount or $300 minimum

Non-Revolving Line of Credit

A non-revolving line of credit allows the business to make a number of fixed asset purchases, via multiple disbursements, with just one loan application.

A non-revolving line of credit has two distinct phases: a draw period and a repayment period. During the draw period, you will send us invoices for purchases and we’ll advance funds to cover 80% of the cost. You’ll only be billed for the interest accrued. During the repayment period, you will no longer make purchases and the line of credit will convert to a term loan. You’ll start making monthly principal and interest payments on the loan, and begin building equity in the assets.

  • Terms: Draw Period - 12 months; Repayment Period - Up to 60 months
  • Fee*: Up to 0.75% of loan amount or $300 minimum

Owner-Occupied Real Estate Loan

A term loan to purchase or refinance owner-occupied real estate.

After appraising the subject property, HomeStreet will finance up to 80% of the appraised value of the property, if approved. Note that additional third party fees related to appraisal, title, and escrow costs may apply.

  • Terms: Up to 120 months
  • Amortization: Up to 360 months
  • Fee*: Up to 0.75% of loan amount

Disclosures:

*All SBL lines/loans include an additional $150 processing fee and documentation fee that covers third party reports. Other terms and conditions may apply. This summary is not intended as an exhaustive, definitive, or all-inclusive description of all the terms that may govern your loan, if approved. All loans subject to underwriting review.

1.15% APY* Money Market | HomeStreet Bank 1.15% APY* Money Market | HomeStreet Bank

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