FundKite Glossary of Business Finance Terms.


Unsecured Line of Credit

Unlike a secured line of credit, unsecured tend to come with higher interest rates. They are usually more difficult to obtain and often require a higher credit score. Funders attempt to compensate for the increased risk by limiting the number of funds that can be borrowed and by charging higher interest rates. It can also be a revolving monthly credit line for businesses or personal account which allows the user to borrow up to a certain limit in which the formula is calculated through the credit of the user.

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