183k views
19 votes
describe a real or made up but realistic situation in which you would want to use revolving credit 2-4 sentences ​

1 Answer

6 votes

Answer:

Kindly check explanation

Step-by-step explanation:

The revolving credit concept is one in which one can continously borrow up to a specific amount while paying back an agreed portion of what is borrowed on a fixed basis. This credit concept can help in financing and molding a startup with very little personal capital.

A scenario whereby revolving credit may be if hugely considered may be for a business startup such as an export business which involves quite a large sum which the investor might not be able to afford or due to the nature of the market requires an amount beyind one's capital outky, the evolving credit allows repeated borrowing of money with only a portion being paid on a regular basis. This can help business survival and growth.

User Manmeet
by
6.9k points