Business owners often wonder whether they should get a loan or a line of credit for different business situations. Both are debt instruments that can be used strategically to really help a small business financially.
What are the difference between loans and lines of credit and when should you use each? That's what this video will help you with!
0:00 Notice anything new?
1:01 Debt Instruments
2:18 What is a Loan?
4:42 Amortization Schedule
6:04 Revolving Line of Credit
9:05 Tip for Lines of Credit
10:20 Summary of differences
11:30 When do you use a loan vs. line of credit
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Hannah Smolinski is a #CPA and the Founder of Clara CFO Group. Find out more about Clara CFO Group at [ Ссылка ]
Disclaimer: This video is intended for educational purposes and
should not be taken as legal or tax advice. You should consult with your financial professionals about your unique financial situation before acting on anything discussed in these videos. Clara CFO Group, LLC is providing educational content to help small business owners become more aware of certain issues and topics, but we cannot give blanket advice to a broad audience.
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