what is the diffence between Cash Credit and Term Loans ?
1 Replies
nikhil
(ca final)
(233 Points)
Replied 16 March 2014
cash credit is provided for meeting working capital requirements, and if funds required for purchases of capital assets like plant nd mchinery, den bank gives term loan
generally cc is for 1 yr, user hav to renew it, on other hand term loan is for long term period.
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