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BUSINESS LINE OF CREDIT
A line of credit gives you access to funds up to your credit limit that you can borrow multiple times. This loan type helps businesses that are seasonal and may need help maintaining cash flow. It is also great for unexpected business emergencies.
Pros:
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Flexible borrowing
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Typically no collateral required
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Helps build a business credit history
Cons:
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May have maintenance or withdrawal fees
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Good credit and consistent monthly revenue required
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Longer time in business usually preferred
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Best for:
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Short-term needs such as payroll and inventory expenses
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Unexpected business expenses
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Seasonal businesses

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