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Revolving Credit
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TYPICAL CHARACTERISTICS


  • The borrower may use or withdraw funds up to a pre-approved credit limit.

  • The amount of available credit increases and decreases as funds are borrowed and then repaid.

  • The credit may be used repeatedly.

  • The borrower makes payments based only on the amount they've actually used or withdrawn, plus interest.

  • The borrower may repay over time (subject to any minimum payment requirement), or in full at any time.



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