To quote Larry Kudlow: Free market capitalism is the best path to prosperity! Matters of business and free enterprise are discussed on this blog. Included are company press releases, 3rd party news articles and videos, articles and videos pertaining to small business, and white collar crime.
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Thursday, March 31, 2016
What is the Difference Between a Line of Credit and a Loan?
Small business owners may need funds for several reasons. Luckily, there are a number of financing options available today that can help businesses secure funds on time. Two of the most common options are a line of credit and a loan.
In a nutshell, a business line of credit is often the best option when you have short-term and occasional credit needs. A small business loan, on the other hand, is best to meet long-term credit needs. Let’s break down the difference between a line of credit and a loan to see how they differ and help you meet your credit needs.