when you have a business line of credit , what amount of principal is typical to accrue through a years time?
Oct 08, 2009
in
Business Line Of Credit
also do you have to pay on your principal every month or can you pay on line of credit and wait until the end of the year?
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One comment
Kasey C on October 8, 2009 at 6:47 am
A "line of credit" is almost the same as a "credit card", except it’s issued to a business, not an individual, and usually it’s accessed by writing checks.
Thus, one use it mainly for emergencies and cashflow purposes. When you pay it off is your business. No such thing as "typical". If you carry a balance, you pay interest on the balance. Same as a credit card.