O line of credit can help you when you need extra cash for your business, perhaps for:

➤⠀paysalaries;

➤⠀paysuppliers;

➤⠀orthe purchase of raw materials.

It's an advantageous choice for you because you only pay interest on what you consume from the loan and not on the total amount of the loan. 👍

This results in a monthly interest rate that depends on the amount used, which is less costly than in the case of a classic loan (where you use the entire amount approved and repay it within the terms agreed with the bank) 📉

In addition, with a line of credit, you can also refinance loans from other banks.