Working Line of Credit (WLOC)

Does getting a "WLOC" mean you get a loan from the bank? Do they use your equity for collateral?

Verne

Comments(2)

  • ChipNJ3rd June, 2003

    a quick summary:
    A WLOC is a set amt of financing that you can access to conduct your business(thus the "working" designation. Although this can be "secured" (collateralized) they can also be obtained by a combination of 1.)track record 2.)business plan and 3.)a good deal of handshaking without being secured.

  • verne_j3rd June, 2003

    Thanks for the reply!!!!

    So are you saying you can possibly get a loan w/o using your home equity?

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