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Can I make principal repayments to reduce the balance on a Commercial Line of Credit?

April 26, 2017Balance Commercial line of credit Principal reduce repayments

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Can I make principal repayments to reduce the balance on a Commercial Line of Credit?

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Regular repayments are not a requirement of this facility as long as the balance remains within the approved limit, however you may organise regular payments to the account if you wish. If you require a facility where the balance reduces regularly by a set amount over an agreed term then a Commercial Loan Fixed or Commercial Loan Variable would be more appropriate.