Revolving Credit: What You Need to Know as a Small Business
When it comes to borrowing for your business, understanding the types of credit available to you is key to knowing which type to use in different financial situations. The two main types of credit are revolving credit and installment credit.
If you’re seeking a financial cushion for emergencies, or foresee a situation where your business will need to borrow money repeatedly in the near future, a revolving account from your bank may be what you need.
In this article, we go through how a revolving line of credit works and whether it is the right choice for your business.