In link and go scheme the linkage editor coexists with program in main memory while performing linking task
whereas link,load and go scheme the linkage editor does not coexists with program in main memory while performing linking task
source : http://www.answers.com/Q/What_are_link_and_go_and_link_load_and_go_loader_schemes
In Link-and-Go type of loader, the instruction is read line by line, its machine code is obtained and it is directly put in the main memory at some known address. That means the assembler runs in one part of memory and the assembled machine instructions and data is directly put into their assigned memory locations. After completion of assembly process, assign starting address of the program to the location counter. In this scheme some portion of memory is occupied by assembler which is simply a wastage of memory.