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ainsley wants to start a business of her own. she does not have enough savings, so she approaches her bank to obtain short-term funds for operations. the bank agrees to lend her $15,000 as she has requested. in this scenario, the type of funding obtained by ainsley can be regarded as a

Sagot :

Gauravsingh23VTidn

The type of funding obtained by ainsley can be regarded as a line of credit.

What is a credit line?

An amount of money that a person or business is permitted to borrow from one or more financial institutions for a specific amount of time.

some information about credit line is-

  • It is viewed as a loan with flexibility.
  • It is a set amount of money that may be obtained anytime it is needed. It can then be paid back instantly or over a certain length of time.
  • It just lasts a brief time.

Thus, line of credit.

For more information about credit line, click here:

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