I don’t think so. Obviously look closely at any lending documents but typically lines of credit do get drawn down in recessions. It’s a reason they’re looked at more negatively on the bank’s balance sheet relative to standard term loans
Facebook acquaintance gets a $1MM line of credit. In 2019, do standard LOC terms allow the bank to withdraw credit during financial volatility/distress i.e. a recession? If not, wow, what an opportunity!pic.twitter.com/AuwqSyKRD9
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