Line of Credit (LOC): Things You Need to Know
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A business line of credit (LOC) is a revolving loan that gives you access to a fixed amount of funds. Within the approved credit limit, you can withdraw money as you need, and pay interests only on the amount borrowed. Once repaid, that amount becomes available for you to use again.
For e-commerce sellers, a business line of credit gives you quick access to funds, which can be used to meet short-term working capital needs such as:
- Inventory purchase
- New hires
- New product launches
Pros of Business Line of Credit
Cons of Business Line of Credit
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