Get approved once, then draw down whenever you need to — same day. Repay, and the room opens back up. Interest only ever applies to what you've actually drawn. It's the flexibility of cash with the discipline of a facility.
Some costs don't send a calendar invite — a supplier discount that expires Friday, a machine that breaks on a Tuesday, an invoice that pays late. A line of credit means the money's already there. You just decide when to reach for it.
| Line of Credit | Term Loan | |
|---|---|---|
| Access | Draw anytime | Lump sum once |
| Cost | On drawn balance | On full amount |
| Best for | Recurring, unpredictable | One defined project |
| Reuse | Revolving | One-time |
Approved once, drawn only when you need it. Worth understanding properly before you commit.