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What are the differences between Installment Loans and Revolving Credit?
The terms “installment loans” and “revolving credit” refer to two distinct types of credit facilities that businesses can use when financing their operations. An installment loan is a lump-sum loan with fixed repayment periods, while revolving credit is an ongoing line of credit with different payment schedules. Understanding the differences between these two forms of…
What is a Business Line of Credit?
A Business Line Of Credit (BLOC) is a type of financial tool available to businesses for short-term borrowing and lending. It typically consists of an approved line of credit from a lender, with the amount determined by the business’s creditworthiness. Businesses can access this source of capital as needed without having to secure additional funding…