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Differences Between a Line of Credit and a Term Loan

Fleitas PLLC

With a line of credit the borrower has recurring access to the funds and can borrow and repay the funds as he or she needs them. A term loan is funded fully at the time of the closing and the borrow repays it over a set schedule over a period of time.


Ocean Bank Center
782 NW Le Jeune Rd

Miami, FL 33126

Phone: (305) 442-1443 Fax: (305) 442-9944

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