What is a business line of credit?
A business line of credit is a type of financing arrangement where a business can borrow funds from a business lender. Drawing down the funds can be done all at once or in several parts, until you reach the fixed credit limit. Each single drawn down is automatically turned into a separate loan, that will each be repaid according to a separate repayment schedule. The business repays each loan with interest, during a predetermined loan duration period.