What kind of loan protects businesses in the case of an emergency?
A mortgage loan
An automobile loan
A line-of-credit loan
An inventory loan
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an automobile line i think
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In case of an emergency in busienss a line of credit is of great help.
A line of credit or popularly known as the LOC is a specific type of a loan which is extended by the bank and allows one to borrow or draw finances for a specific purpose.
It is different from tradiitonal loans. Influx of cash is almost immediate thus helping out in a certain urgent situaion.
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