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Source: Encyclopedia of Banking & Finance (9h Edition) by Charles J Woelfel
(We recommend this as work of authority.)

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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