Fill in the Blank QuestionFill in the blank question.Line of is a short-term loan that is approved before money is actually needed.

The correct phrase to fill in the blank is "credit".

In financial terms, a line of credit is a flexible loan that allows the borrower to access funds up to a predetermined limit at any time. It is often used to meet short-term financial needs or to manage cash flow, making it particularly useful for businesses and individuals who may face variable expenses. Unlike traditional loans, where a specific amount is disbursed upfront, a line of credit allows borrowers to take out funds as needed and only pay interest on the amount used. This can provide greater financial flexibility and can help in managing unexpected expenses efficiently.