NBE Funeral Service Director

Answer: A - An open-end line of credit provides a funeral service with continual access to financing.

An open-end line of credit provides a funeral service with continual access to financing necessary to meet certain needs, such as cash flow. A close-end line of credit, typically associated with auto loans and mortgages, requires repayment of the loan amount over time. Revolving lines of credit provide a borrower with a line of credit from which to borrow against but no fixed payments for amounts borrowed. Term credit loans are those that have a scheduled maturity date.