Hartford Foods, a company that makes and sells condiments, needs a loan so it can put more resources toward research and development. The company makes an arrangement with the bank to secure the funds needed. The bank agrees to lend funds to Hartford Foods as needed with a preset limit of $$1$ million. In this scenario, the type of funding obtained by Hartford Foods can be regarded as a

Multiple Choice

personal loan.

line of credit.

trade credit.

nonrecourse loan.