What is the purpose of establishing a line of credit for an account? What are the benefits
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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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Line of Credit is a n informal loan arrangement between a bank and a customer allowing the customer ...View the full answer
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Shehar bano
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Related Book For 
Fundamentals Of Financial Management
ISBN: 9780273713630
13th Revised Edition
Authors: James Van Horne, John Wachowicz
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