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Technology Stocks : Read-Rite
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To: Bert Kuo who wrote (3696)7/15/1998 11:16:00 PM
From: CPAMarty   of 5058
 
what exactly is a "revolving line of credit"?

The major difference between a revolving line of credit and term loan is the repayment schedule. A term loan has a set payback period in terms of time; this type of loan is normally secured by real estate or equipment. Revolving line of credit loans are usually used for the working capital needs and are often secured by accounts receivable and inventory and often are due to be repaid as accounts receivable and inventory levels decline. Example, you might have a revolving line that allows you to borrow up to 80% of accounts receivable and 35% of inventory.
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