https://www.interstatecapital.com/business-line-of-credit/
A line of credit, whether it is a personal or business, represents an arrangement between a customer and a financial institution that enables the customer to be able to withdraw funds up to a predetermined maximum loan balance. The financial institution could be a bank, a factoring company, or other lenders. You can think of a business line of credit as a sort of revolving loan that parallels how a credit card might work. The advantage over a credit card is typically lower annualized interest rates.
A line of credit, whether it is a personal or business, represents an arrangement between a customer and a financial institution that enables the customer to be able to withdraw funds up to a predetermined maximum loan balance. The financial institution could be a bank, a factoring company, or other lenders. You can think of a business line of credit as a sort of revolving loan that parallels how a credit card might work. The advantage over a credit card is typically lower annualized interest rates.
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