Cash credit limit, also known as a line of credit, is a type of loan that allows a borrower to access a certain amount of funds up to a predetermined limit. The borrower can draw on the funds as needed and only pay interest on the amount of funds used.
It’s important for businesses to understand the terms and conditions of their cash credit limit, including the interest rate, repayment terms, and any fees associated with the loan. Borrowers should also ensure that they have a plan in place for repaying the loan and managing their cash flow to avoid defaulting on the loan.
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