Reported 2 days ago
Business lines of credit offer flexible financing options for small businesses, with secured lines backed by assets and unsecured lines not requiring collateral. While secured lines generally provide better rates and terms, they pose risks to the owner's assets. Unsecured lines, on the other hand, can be harder to qualify for and come with higher interest rates. Business lines of credit are versatile, allowing funds to be used for various expenses like inventory, payroll, and equipment purchases. It’s essential for business owners to assess their needs and the terms of the credit line before choosing the right option.
Source: YAHOO