Alt LOC/LOC

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An alternative line of credit refers to borrowing options outside of traditional bank lines of credit, often provided by online lenders or other non-bank financial institutions. This program is a great capital option for payroll, marketing, inventory, or any expansion aspect. This option frequently offers more flexible qualification requirements and faster funding, though they may come with higher interest rates.

A line of credit is a pre-approved loan amount that a borrower can draw from as needed, rather than receiving a lump sum. It allows for flexible access to funds, with interest typically charged only on the amount borrowed.