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Lines of Credit
A Line of Credit allows your company to borrow against an established credit
limit for short-term working capital. Borrowings are payable on demand, and
interest rates are usually tied to the Prime Rate. A Line of Credit can be
secured or unsecured. If secured, the collateral is usually "short-term"
assets, such as receivables and/or inventory. Because we prefer to develop a
relationship with our customers, we do ask that your company maintain its
operating accounts with us. Lines of Credit are subject to review at least
annually.
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