{"id":9266,"date":"2022-12-20T09:14:03","date_gmt":"2022-12-20T08:14:03","guid":{"rendered":"https:\/\/www.difference101.com\/?p=9266"},"modified":"2023-04-22T02:45:13","modified_gmt":"2023-04-22T00:45:13","slug":"loan-vs-credit-line","status":"publish","type":"post","link":"https:\/\/www.difference101.com\/loan-vs-credit-line\/","title":{"rendered":"Loans vs. Credit Line: What\u2019s The Difference Between Loan And Credit Line?"},"content":{"rendered":"\n

Loan vs. Credit Line:<\/strong> Loans and credit lines are two different ways businesses in which individuals can borrow from lenders. The main difference between a loan and a credit line is that a loan amount of money has to be repaid at a fixed term, but in a credit line, the borrower can draw, repay and redraw from the funds. Approval for both loan and credit line depends upon the borrower’s financial history and credit rating.<\/p>\n\n\n\n

Let\u2019s take a closer look at Credit Line vs. Loan<\/strong><\/p>\n\n\n\n

Debts<\/strong><\/td>Both are bank-issued debts to serve various needs<\/td><\/tr>
Revolving<\/strong><\/td>Credit lines are revolving, while loans are non-revolving<\/td><\/tr>
Source<\/strong><\/td>Both are good sources of finance<\/td><\/tr>
Based Upon<\/strong><\/td>Both are based on the specific needs of the borrower<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
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Table of Contents<\/p>\n