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Using a Line of Credit (LOC) as Working Capital for Business
At times, just about every business requires more cash than what is readily available to it in hand or in its bank accounts. Several business owners turn to their personal or business credit card in these situations, financing larger purchases or cash advances with a set intention of paying off the debts incurred over many months.
Working Capital Line of Credit under SBA CAPLines
A working capital Line of Credit under the SBA CAPLine offers small businesses a maximum of $5 million in funds to change short-term assets such as pending invoices to cash all around the year.
How Do Personal Lines of Credit Compare to Other Financial Products?
One can compare a personal line of credit to a traditional bank loan resembling a credit card, as the former provides people with access to a specific amount of money, similarly to a card limited amount which can be used for virtually any purpose.
