Understanding Lines of Credit (LOC): Definition, Types & Examples
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Understanding Lines of Credit (LOC): Definition, Types & Examples
Explore what a Line of Credit (LOC) is, its definition, types like HELOC, and examples. Learn about secured vs. unsecured LOCs to make informed financial decisions.
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Confused about the difference between a loan and a line of credit? We’re here to help. A loan provides a lump sum of money with fixed payments, while a line of credit lets you borrow as needed and pay interest only on what you use. To learn more about the difference and how it works, visit https://bit.ly/40Lf6iv. | KeyBank
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