Restaurant Business Loans: What You Need to Understand

Restaurant Business Loans: What You Need to Understand

2. Company Personal Credit Line

a credit line is a lot like a charge card. You may get authorized for the certain optimum credit amount, but pay only for just what you’ve got utilized. Therefore then your monthly payment is based on the amount you have drawn – $20,000 if you get approved for $100,000 line of credit and only use $20,000 in the first month for renovations. Additionally, like a charge card, a relative credit line is revolving. While you spend the total amount down, you have got more credit to draw in for future costs. Continue reading