How exactly does LightStream determine interest? The length of time are my funds available?

How exactly does LightStream determine interest? The length of time are my funds available?

LightStream offers a straightforward interest loan, with a hard and fast rate of interest. Simple interest accrues on a daily basis, on the basis of the unpaid balance that is principal. Which means with every re payment, you will reduce interest accrued, after which the rest may be used towards principal.

You have 30 days to have the funds transferred into your account when you are approved for a LightStream loan. As soon as 30 days have actually passed away, the applying will expire and also you will need to re-apply for the loan.

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

Because of the unlawful status of cannabis under federal legislation, and regulatory limitations on financial institutions, SunTrust will not accept earnings this is certainly produced by the marijuana industry (wholesale and retail suppliers, dealers and/or growers of marijuana) in its loan underwriting choice.