Choosing between a line of credit and a business loan depends on your financial needs.
- A line of credit is ideal for short-term, recurring expenses like managing cash flow or purchasing inventory. You borrow as needed and pay interest only on the amount used.
- A business loan is better for long-term investments like equipment purchases or expansion projects. It comes with fixed repayments and interest rates.
Understanding your cash flow and financial goals will help you decide which option aligns best with your business needs.
