What is the purpose of a line of credit for a business? Why would a company choose
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Line of Credit
A line of credit (LOC) is a preset borrowing limit that can be used at any time. The borrower can take money out as needed until the limit is reached, and as money is repaid, it can be borrowed again in the case of an open line of credit. A LOC is...
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A line of credit is a preapproved amount of credit that is available to a business ...View the full answer
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