Line of Credit
Line of credit is a common type of loan in which a borrowing “cap” is established and borrowers can use the credit at their discretion. Lines of credit require periodic interest payments.
Line of Credit is a pre-approved credit facility (usually for one year) enabling a bank customer to borrow up to the specified maximum amount at any time during the relevant period of time.
Line of credit is a maximum amount that a commercial bank agrees to lend to a business borrower if it has the funds available.
Line of credit means a preapproved amount of money the holder may borrow, in whole or in part, provided the bank has funds available.
Category: Entrepreneurship & Small Business
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