A line of credit document is a formal agreement between a borrower and a lender that authorizes the borrower to draw funds up to an approved limit. The document outlines the terms of the loan, including interest rate, repayment schedule, and grace period. It also sets out any other relevant rules and regulations that govern the borrowing arrangement. With this in place, lines of credit offer significant flexibility – allowing borrowers to access funds when they need them without having to apply for a new loan each time. They can be especially useful for businesses who may require cash injections on an irregular basis to cover unexpected expenses or fund new projects. Ultimately, they provide a convenient financial solution that can equip businesses with the resources they need to grow and succeed.