A business line of credit, also known as an LOC is a type of business finance that allows you to draw against an agreed amount of funds when you need to. The agreed amount is your approved credit limit. Once your business has a line of credit facility in place you can access these funds when you choose, without having to get approval from your lender or without having to apply again.
How does a line of credit compare to other business loans?
How does it differ from an overdraft?
How much can you borrow?
What are the repayment terms?
What are the fees?
What is the interest?
Are there any other fees?
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