Anyone know what this means? I’m reading an agreement for a LOC and it states, “This credit line will be interest only with a 12 month-50% draw down term” What does this mean?
Nate-WI
Hey Nate,
I’m not positive, but I believe the 12 month draw down term mean’s you can only draw funds on the LOC for 1 year, now 50% I have no idea. Hopefully someone else has a clue.
Justin
(habit)