What does it mean to have a line of credit at a bank?
Question:
What does it mean to have a line of credit at a bank?
Line of CreditA line of credit (LOC) is a preset borrowing limit that can be used at any time. The borrower can take money out as needed until the limit is reached, and as money is repaid, it can be borrowed again in the case of an open line of credit. A LOC is...
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
A line of credit is an agreement betwee...View the full answer
Answered By
Sagar Kumar
I am Mechanical Engineer with CGPA of 3.98 out of 4.00 from Pakistan. I went to Government Boys Degree College, Sehwan for high school studies.
I appeared in NUST Entrance Exam for admission in university and ranked #516. My mathematics are excellent and I have participated in many math competitions and also won many of them. Recently, I participated in International Youth Math Challenge and was awarded with Gold Honor. Now, I am also an ambassador at International Youth Math Challenge,
I have been teaching when I was in 9th class class year 2012. I have taught students from 6th class to university level.
1+ Reviews
10+ Question Solved
Related Book For 
Business A Changing World
ISBN: 978-1259179396
10th edition
Authors: O. C. Ferrell, Geoffrey Hirt, Linda Ferrell
Question Posted:
