What Is a line of credit? Basically, a line of credit is a flexible loan available for a period of time. Similar to how credit card companies will provide you with the ability to use a set amount of funds when and where you need it, a line of credit allows you to borrow a set amount of money that you can access when you need it and then repay the amount that you use over an agreed amount of time. Similar to a loan, you pay interest on the money you use and you must first be approved by your lender. Unlike a loan, you are able to reuse the money in your line of credit when you need it in the future, without having to reapply for a loan. As long as you have money available [unused] I your credit line, you can use it for your needs and when you pay back the amount you’ve used you can reuse it when needed. A line of credit can add alot of flexibility to your financial future.
As a valued customer of Kenner Lending we hope to provide you with a line of credit in the future.