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Different between cash credit and term loan?
Cash credit is a revolving credit facility where you can borrow funds up to a certain limit as needed, with interest charged only on the amount used. Term loan is a lump sum borrowed amount with fixed repayment schedule and interest charged on the entire loan amount from the beginning.
Cash credit is a revolving credit facility where you can borrow funds up to a certain limit as needed, with interest charged only on the amount used. Term loan is a lump sum borrowed amount with fixed repayment schedule and interest charged on the entire loan amount from the beginning.
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