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Line of business (LOB) is a general term which refers to a product or a set of related products that serve a particular customer transaction or business need. In some industry sectors , like insurance , "line of business" also has a regulatory and accounting definition to meet a statutory set of insurance policies.
A business line of credit provides small business owners access to short-term funding. This credit line can help cover business expenses like paying your employees or purchasing inventory.
Business line of credit: Similar to a credit card; you have access to a revolving line of credit. This means you can repeatedly borrow up to a certain limit, repay it, and borrow again. You'll ...
What credit score do you need for a business line of credit?Some lenders accept small business owners with credit scores as low as the mid-500s. Remember, the best terms on business lines of ...
A line of credit is a credit facility extended by a bank or other financial institution to a government, business or individual customer that enables the customer to draw on the facility when the customer needs funds. A financial institution makes available an amount of credit to a business or consumer during a specified period of time. [1]
The credit line on a small business line of credit can be quite high. Depending on your business credit history and the company’s financial health, a card’s credit line can easily reach ...
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