Stearns Bank Equipment Finance equipment loans in Connecticut

Stearns Bank Equipment Finance holds 438 active equipment financing statements against 339 businesses in Connecticut, according to public UCC filings. 52 new filings were recorded in the last 12 months, down 37% on the year before. 159 of these loans reach a typical 36, 48 or 60 month term end in the next six months, an unusually large 36% of the book. Construction is the largest equipment type, at 19%. Banks and credit unions hold 100%, more than captives and independents. That makes it the number 21 equipment lender in the state by active filings, with 0.9% of lender-held filings. It is classed as bank.