Gus' Grill, a food truck restaurant in an urban city, worked with a local bank for a __________. This unsecured source of funds was available for Gus to tap into if he needed immediate funds for the business. He liked the fact that he had a cushion and only used it if he fell short of funds.

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17-11-2021
Business

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Gus' Grill, a food truck restaurant in an urban city, worked with a local bank for a __________. This unsecured source of funds was available for Gus to tap into if he needed immediate funds for the business. He liked the fact that he had a cushion and only used it if he fell short of funds.

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Baraq Baraq · Answer 1 · 2021-11-23T14:42:16+01:00

Considering the situation described above, Gus' Grill, a food truck restaurant in an urban city, worked with a local bank for "Line of Credit."

This is because Line of Credit is a term used in the financial industry to describe a predetermined borrowing threshold that can be accessed or tapped into at any given period.

Given that the unsecured source of funds was available for Gus to tap into if he needed immediate funds for the business, this is considered the Line of Credit.

Line of Credit is usually agreed between banks and clients.

Hence, in this case, it is concluded that the correct answer is Line of Credit.

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