You have access to financing at all times with a line of credit. It allows you to access your repaid capital to finance other projects without having to apply for another loan. You can repay a line of credit at your own pace and are only required to repay the interest every month.
With a personal loan, you can make a big purchase or fund a project. You can take advantage of flexible repayment methods or opt for accelerated repayments without penalties. You repay the loan in installments and pay the interest every month.
Are you hesitating between a personal loan and line of credit?