Home » Line of Credit Promissory Note

Line of Credit Promissory Note

 Line of Credit Promissory Note
"The Forms Professionals Trust! ™

Click to Preview this form
Category: Promissory Notes - Loans and Lending
State:Multi-State
Control #:  US-03123BG
Instant Download $16.95 
Mail Paper Copy $19.95  Click to order printed documents by Mail
Available formats: Word | Rich Text

Description

A Line of Credit refers to the maximum borrowing power that a lender extends to a borrower. The borrower may draw required amounts from the fixed amount. Usually, it is a credit source extended to any credit-worthy business by a bank or any financial institution. A line of credit includes cash credit, overdraft, demand loan, export packing credit, term loan, discounting or purchase of commercial bills, etc. The borrower may use the line of credit to overcome liquidity problems. Requisite amounts may be withdrawn from the account as and when required. The borrower pays interest only for the amount withdrawn.



All forms provided by U.S. Legal Forms, Inc.™, (USLF), the nations leading legal forms publisher. When you need a legal form, don't accept anything less than the USlegal™ brand. "The Forms Professionals Trust ™