Financial Advice Category
Financial Advice Category

Knowledge Hub

This is a free financial education resource. Some of the products mentioned may not be offered by Horizon Credit Union at this time

Business Loan or Line of Credit?

Business lines of credit often have more flexible repayment terms than a standard business loan. Business loan payments are typically fixed over the repayment period, while business lines of credit can offer interest-only payment terms or outstanding balances can be repaid using a variety of repayment strategies. Businesses with uncertain or fluctuating revenue streams, such as startups or seasonal businesses may benefit more from the flexible repayment terms a business line of credit offers.