In many ways, SLCs perform similar functions for a borrower as do loan commitments.

Name: In many ways, SLCs perform similar functions for a borrower as do loan commitments.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

SLCs, or Standby Letters of Credit, and loan commitments both provide a promise of funds to a borrower, typically for a specific purpose or project. They both provide a level of assurance to the borrower that the funds will be available when needed, which can be important for planning and budgeting purposes.

In Many Ways, SLCs Perform Similar Functions for a Borrower