Understanding the Different Types of Commercial Loans

Understanding the different types of commercial loans can be a challenge if you’re not in the finance sector. Before I became an accountant, I spent 12 years working in the banking industry. During my time there, I opened accounts, underwrote loans, worked on loan collection, and restructured problem loans. In summary, I have been involved in the complete lending cycle process from start to finish. With that experience, here’s a high-level introduction to the different types of commercial loans:

Revolving Business Line of Credit

A revolving business line of credit, which is similar to a credit card, has a loan limit that you can draw on up to the credit limit.

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