× Didn't find what you were looking for? Ask a question
Top Posters
Since Sunday
g
3
2
J
2
p
2
m
2
h
2
s
2
r
2
d
2
l
2
a
2
s
2
New Topic  
lemn8 lemn8
wrote...
Posts: 532
Rep: 0 0
6 years ago
How is a line of credit different than a revolving credit agreement?
Textbook 
Business Essentials, Canadian Edition

Business Essentials, Canadian Edition


Edition: 8th
Authors:
Read 58 times
1 Reply

Related Topics

Replies
wrote...
6 years ago
With a line of credit, the company borrowing the money knows the maximum amount it will be allowed to borrow (if the bank has sufficient funds). With a revolving credit agreement, the company knows not only the maximum amount, but it is also guaranteed that the bank will make the money available (the company pays a commitment fee to get this guarantee).
New Topic      
Explore
Post your homework questions and get free online help from our incredible volunteers
  716 People Browsing
 122 Signed Up Today
Related Images
  
 282
  
 268
  
 344
Your Opinion