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A corporate line of credit allows you to only interest on the funds you use. Once the borrowed funds are repaid, you can continue to use the funds for future expenses in the form of revolving credit. Revolving credit is intended for shorter-term and smaller loans.
Even if you pay your balance, the line of credit remains open. The best personal lines of credit offer a revolving credit line without a credit card or the need to put your home up as collateral. They’re different than personal loans, which disperse loan proceeds in a lump …
