Frequently Asked Questions
An Asset-Based Loan is a type of nonrecourse loan where a borrower uses an asset they already own as collateral to immediately obtain liquidity.
Sterling is a licensed, bonded, and insured asset-based lender regulated by New York State.
The amount of each loan is solely determined by the value of the underlying asset that is being used as collateral to secure the loan. Sterling writes loans starting at $25,000.
Sterling loans against automobiles, jewelry, watches, gemstones, precious metals, coins, yachts, fine art, heavy equipment, and virtual assets.
Through one of Sterling’s globally recognized partners, a Borrower is able to utilize their Bitcoin, Ethereum, Stablecoins, and NFTs to receive immediate liquidity.
A Borrower simply needs to provide proof of ownership of the asset, and two forms of identification.
Sterling is currently licensed to write asset-based loans in the State of New York. However, if you reside outside of New York State, Sterling will work with you and one of our partners to ensure that your liquidity needs are immediately addressed.
Sterling only writes first position loans. If a Borrower’s desired asset already has a lien against it, Sterling will use a portion of the loan proceeds to pay off the existing lien.
Sterling offers loans which strictly adhere to New York State law. Licensed asset-based lenders in New York State may charge and receive interest at the rate of 4% per month.
Sterling offers short-term four-month loans.
Yes. At the end of the contractually agreed loan term a Borrower may enter into a new loan, secure by the same collateral, for an additional four-month term by paying the accrued interest on the initial loan and any associated fees on the new loan.
Yes. The loan may be paid off at any time during the loan term without penalty.
During the term of the loan, Sterling securely stores each asset in an insured facility. Pledged collateral that has an independent insurance policy remain insured at all times during the loan term.
If a loan is not repaid, a Borrower simply forfeits their collateral. There are no legal actions, no debt collection agencies, and no credit score implications.