With a Dupaco business loan or business line of credit, you can purchase equipment, machinery, titled goods and other working capital assets at affordable rates.
Dupaco’s business experts will work with you to structure the financing you need to get your business up and running, expand your existing operation or simply make things run more smoothly day to day.
Dupaco’s business loans allow you to purchase capital assets and major equipment in a familiar way: you’ll make a cash down payment and sign a security agreement. Then you’ll have the money you need to get yourself up and running or expand your existing operation.
Business Line of Credit
A Dupaco business line of credit provides flexible, short-term financing for business operations and working capital. You can use real estate, inventory, accounts receivable, titled items and/or equipment as collateral for this loan.
- One year term (may be longer if secured by real estate)
- Variable rate with monthly interest payments based on the average balance
- Advances can be made by phone, or at any branch
- Conveniently make payments via Shine Online or Mobile Banking, by phone, or in person at any branch
The line of credit can be renewed after the initial term if there is no adverse change in ability to repay, collateral condition, LTV, financial strength, line-of-credit movement (principal pay down), etc.
Interest rates will vary based on but not limited to age of collateral, cash flow, credit score, debt-to-income ratio, loan-to-value, etc. This loan is subject to fees including but not limited to normal closing costs associated with the recording/filing of all collateral documents, legal counsel review and origination fee.
|Real estate (lower of appraisal or market value)||80% or less|
|New titled items/equipment/machinery with purchase contract||80% or less|
|Accounts receivable (monthly financials/borrowing base certificate)||75% or less|
|Used titled items without purchase contract||60% or less|
|Used equipment without purchase contract||50% or less|
|Inventory (monthly financials/borrowing base certificate||50% or less|
Please be prepared to provide the following documents as part of your loan application.
- 3 years of personal tax returns
- 3 years of business tax returns (if applicable)
- Interim financials (if applicable)
- Up to date personal statement
Monthly financials (Balance Sheet & A/R Aging Report) are required for lines of credit secured by inventory and accounts receivable.