Understanding Lines of Credit: Flexible Financing Solutions by Pan Am Capital Group LLC
A lines of credit (LOC) is a revolving loan that allows borrowers to access funds up to a predetermined limit whenever needed. Unlike traditional loans, where you receive a lump sum upfront, a line of credit offers flexibility by letting you borrow, repay, and borrow again within the credit limit. Interest is typically charged only on the amount you use, making it a cost-effective financing option.
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