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A line of credit is a credit facility extended by a bank or other financial institution to a government, business or individual customer that enables the customer to draw on the facility when the customer needs funds. A financial institution makes available an amount of credit to a business or consumer during a specified period of time.
A home equity line of credit, or HELOC (/ˈhiːˌlɒk/ HEE-lok), is a revolving type of secured loan in which the lender agrees to lend a maximum amount within an agreed period (called a term), where the collateral is the borrower's property (akin to a second mortgage).
Business credit cards: Business credit cards work similarly to a revolving business line of credit, replenishing the amount you can borrow as you pay it back. But if you pay off the credit card in ...
A line of credit and a loan are two common business financing tools that offer different ways to access capital. A loan provides a lump sum with fixed payments, while a line of credit offers ...
Its short-term loans have repayment terms of up to 15 months and funds up to $400,000, while the line of credit funds up to $300,000.But some of its loans can get expensive, charging factor rates ...
A term sheet is a bullet-point document outlining the material terms and conditions of a potential business agreement, establishing the basis for future negotiations between a seller and buyer. It is usually the first documented evidence of a possible acquisition . [ 1 ]
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