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Evergreens
Source:
Encyclopedia of Banking & Finance (9h Edition) by Charles J Woelfel
(We recommend this as work of authority and you can order
it here)
A
form of accounts receivable home equity financing.
Evergreen loans are an open-end, revolving credit product that
gives the consumer/borrower considerable control over credit usage and
loan repayment.
The credit plan provides for a constant in-and-out arrangement
where a complete payoff is not required.
Accounts receivable financing often relies on borrowing certificates
for advances.
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