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What is cash credit with example


A Cash Credit (CC) is a short-term source of financing for a company. In other words, a cash credit is a short-term loan extended to a company by a bank. It enables a company to withdraw money from a bank account without keeping a credit balance. The account is limited to only borrowing up to the borrowing limit.

What is cash credit in simple words?

What is meant by Cash credit? Cash credit is referred to as short-term funding or loan for a company so that it can meet its working capital requirements. Cash credit is a sort of loan that is offered to businesses by financial institutions like banks.

What is an example of credit?

For example, when a person uses a Visa card to buy something, the card is considered a form of credit because the person agrees to pay the bank back later. Credit can be given in the form of money and other ways. It is possible to trade goods and services for deferred payment, a different kind of credit.

What is cash credit available?

Your cash credit line available is the amount of money on your credit card that is currently available for you to use for bank cash advance transactions. Keep in mind that any bank cash advance transactions you have made but have not yet been processed should be subtracted from your cash credit line available.

What are the two types of cash credit?

Cash credit and overdraft are two types of short term loan facilities offered by the lenders to the businesses. Overdraft facility is also offered to individuals based on their relationship with the bank.




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