What is a line of credit, and how does it differ from loans?
Understanding a Line of Credit A line of credit is a flexible financial tool that offers borrowers access to a predetermined amount of money. This tool is highly adaptable, as borrowers can draw funds as needed up to the maximum limit, repay what they’ve borrowed, and access those funds again. Such an arrangement provides a revolving form of credit, meaning that the credit line remains open and reusable, given that the borrower adheres to the established terms and conditions. How
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