Cash Credit
Cash Credit is a short term business loan. It is meant as a means for quick working capital and is generally used to meet short term needs. Cash Credit is normally given on a security of stock.
Over Draft
Over Draft facility is a long term financial assistance offered by a Bank or Financial Institution. The Bank sanctions a specific amount and the account can go in negative upto that limit. The interest liability is on the amount which is due at the end of the day. It is normally given on security of a fixed asset.