Business LOC vs Personal LOC

[Anthony Liguori]

I been looking into personal lines of credit and business lines of credit.. I have read that people use this method for 20% down payments on properties and other things such as funding for their flips and other projects etc... I was thinking about doing this and looking into different banks that offer this...usually small banks and credit unions... I have also heard the term "revolving" and "simple interest" when it comes to asking these banks if these types of LOC have it. So does anyone have any input on these types of lines of credit and which banks they suggest.. also with a business line of credit do you need a LLC.. I need the in's and out's of the two... any help?