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Old 04-02-2013, 02:43 AM
 
Location: New York
12 posts, read 15,320 times
Reputation: 10

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Hello,


I want to know what is business line of credit..?

Please reply me briefly guys!!


Thanks
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Old 04-02-2013, 06:43 AM
 
Location: Manhattan
25,365 posts, read 36,934,766 times
Reputation: 12760
A business line of credit is a committment from a bank to allow a business to borrow up to a certain specified amount.
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Old 04-03-2013, 09:13 AM
 
Location: The Triad
34,090 posts, read 82,675,254 times
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Quote:
Originally Posted by williamjames732 View Post
I want to know what is business line of credit..?
Do you know what a line of credit is? LINK

Do you know what a "business" is? This one is more complicated.
Combining the two requires that the legal status of the "business" be more than a DBA.
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Old 04-28-2013, 05:07 PM
 
6,343 posts, read 11,531,610 times
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Has anyone else encountered the requirement that one have a zero balance on the business LOC for at least thirty days each year? Federal regulators are apparently now enforcing this rule.
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Old 04-30-2013, 11:32 AM
 
Location: Denver
4,564 posts, read 10,937,942 times
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Quote:
Originally Posted by creeksitter View Post
Has anyone else encountered the requirement that one have a zero balance on the business LOC for at least thirty days each year? Federal regulators are apparently now enforcing this rule.
No. I just paid ours off but it had a balance for a few years. I've not seen anything from Wells Fargo either regarding that rule.
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