Line Of Credit Explained in 30 Seconds 🏦 #finance #banking
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Line Of Credit Explained in 30 Seconds 🏦 #finance #banking
A line of credit (LOC) is a flexible form of borrowing that provides access to a predetermined credit limit. It allows you to withdraw money as needed, up to that limit, and you only pay interest on the amount you've borrowed. Unlike traditional loans, a line of credit is a revolving credit account, meaning you can repay and reuse the funds ...
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