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Lines of credit score offer flexibility, allowing businesses to borrow up to a certain limit and pay interest solely on the amount drawn. This is good for managing money circulate and handling unexpected bills. On the other hand, SBA loans are government-backed loans with decrease rates of interest designed for small companies who could not qualify for traditional financ


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Moreover, if repayments are missed, there can be severe repercussions, together with increased interest rates and a unfavorable impression on the borrower's credit score. In the event that the debt stays unpaid, lenders can pursue additional actions similar to wage garnishment or legal st