What is A Revolving Line of Credit

A revolving line of credit is basically an agreement between an individual or an entity and a bank or other financial institutions to borrow short-term money for a maximum fixed amount that is renewed when the balance is paid off or paid down. The bank will initiate a commitment fee the borrower must pay when opening the credit line.   When a borrower draws on a line of credit, interest expenses are charged. If charges are carried...

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