What Is The Full Form Of CC In Banking?
CC full form in banking is Cash Credit. Cash Credit (CC) is like having a trusted friend who is always there for you in your time of need. Whether you’re facing a sudden expense or an opportunity that you don’t want to miss, CC is there to help you out. You may be a small business owner and just landed a big contract. You’re over the moon, but you also know that you’ll need to invest in supplies to fulfill the order. With a Cash Credit facility, you can get the funds you need to make the most of this opportunity. And because you only pay interest on the amount you borrow, you can rest assured that you won’t be stretching your budget too thin.
What Else Should You Know About CC?
As a business owner, you can use cash credit for various purposes such as debt settlement, filling up the inventory, or running other financial operations for your business. But there is always a borrowing limit when it comes to cash credit, and that can depend upon various factors such as who the lender is, how big your business is, debt liabilities on your business, etc.