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Types of Business Line Credit

There are several types of business line credit solutions available, each catering to different business needs:

1. **Secured Line of Credit**: This requires collateral, such as inventory or accounts receivable, to secure the line. It typically offers lower interest rates due to reduced lender risk.

2. **Unsecured Line of Credit**: Does not require collateral, making it a more accessible option for businesses without significant assets. However, it may come with higher interest rates.

3. **Revolving Line of Credit**: Similar to a credit card, this allows businesses to borrow, repay, and borrow again up to the credit limit, providing ongoing financial flexibility.